David  John, president of ASC Trust LLC, has been selected to serve on the exclusive Fidelity Advisor Council.

The council is made up of a select group of Fidelity client leaders who meet twice a year to discuss solutions on the business challenges they face and contribute to Fidelity's current and future product offerings.

ASC Trust LLC is a Guam-based firm founded in 1990. It specializes in the management of retirement plans in the Western Pacific region. 

The company currently manages more than $700 million in retirement assets for 26,000 participants and 450 retirement plans in the region.

Purchase agreement

Bank of Guam's parent, BankGuam Holding Co., acquired 25 percent of the shares of ASC Trust in the first phase of a tiered stock-purchase agreement. The initial purchase was approved by the Federal Reserve Bank of San Francisco in 2016.

The purchase agreement provides for the acquisition of an additional 20 percent of the stock of ASC Trust Corp. in April 2019, and another 25 percent in April 2021, Post files show.

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