Otto

2023 - 2 - 16

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Image courtesy of "Minneapolis Star Tribune"

Otto Bremer Trust appoints third trustee to replace ousted leader (Minneapolis Star Tribune)

Frank Miley replaces Brian Lipschultz, who was removed last year by a Ramsey County judge.

In 2019, the trustees sought to sell their shares of the bank, which triggered a flurry of lawsuits and an investigation by the attorney general's office. The Attorney General's Office sought to remove the trust's three trustees, alleging various breaches of duty. After seeking recommendations from local philanthropic and nonprofit leaders, they approached about 50 potential candidates and narrowed the pool to six finalists who were interviewed.

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Image courtesy of "TwinCities.com-Pioneer Press"

Otto Bremer Trust appoints president of Cretin-Derham Hall High ... (TwinCities.com-Pioneer Press)

With the dust still settling from multiple legal battles, the two trustees of the Otto Bremer Trust have appointed attorney Francis M. Miley, the president ...

Ellison, through the division of his office that regulates charities, had attempted to replace all three trustees following allegations of self-dealing. “Lipschultz continually breached his duties to the Trust’s beneficiaries.” Paul-based philanthropy’s founding in 1944, the three trustees — initially all of them close advisers to German immigrant, banker and philanthropist Otto Bremer himself — have chosen their own successors. “I am deeply honored to have the privilege of being appointed a trustee,” said Miley, in a written statement issued Thursday through the philanthropy. The trustees have submitted a petition to Ramsey County District Court to have Miley confirmed. With the dust still settling from multiple legal battles, the two trustees of the Otto Bremer Trust have appointed attorney Francis M.

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