Company to resign from role and says it respects pop star’s wishes
The wealth management firm that was due to become a co-conservator on Britney Spears’ nearly $60 million estate no longer wants the job, according to reports.
Bessemer Trust, which manages more than $100 billion in assets, says it wants to resign in light of the pop star’s stinging criticism of the arrangement, the New York Times writes, citing a court filing by the company.
“As a result of the conservatee’s testimony at the June 23 hearing, however, Petitioner has become aware that the Conservatee objects to the continuance of her Conservatorship and desires to terminate the conservatorship,” Bessemer Trust says in the court filing filed Thursday. “Petitioner has heard the Conservatee and respects her wishes.”
Last month, Spears called the conservatorship that she had been placed into 13 years ago “abusive” and asked for it to end.
The conservatorship granted oversight of her finances as well as her personal life to her father, James Spears, amid concerns about the singer’s mental health.
Samuel Ingham III, Britney Spears’ court-appointed lawyer, had requested that James Spears be suspended as the conservator because the singer was “afraid of her father,” but the request was denied.
According to Financial Advisor IQ, Bessemer Trust is a shareholder of Bessemer Investor Services, a brokerage firm registered with the Financial Industry Regulatory Authority.
