Bessemer Trust Company, the wealth management firm Britney Spears originally requested to oversee her finances instead of her father, has requested to resign its role from her conservatorship.
Bessemer Trust was appointed by the court in November to serve as co-conservator of the pop icon's estimated $60 million estate alongside her father Jamie Spears. The bank company had not taken any action and fees nor received any of the assets from her estate. Britney had previously asked the court to immediately remove her father from his role overseeing her financial affairs in a court filing at the time Bessemer Trust was appointed.
According to The New York Times, Bessemer Trust outlined in a new filing on Thursday (July 1) the firm's desire to resign from the conservatorship "due to changed circumstances," citing Britney's public disdain for the "abusive" arrangement in her harrowing court hearing last week. The bank company claimed in the new court papers it was told Britney's conservatorship was voluntary and the singer had consented to its role as co-conservator of her estate but was surprised to hear her adamantly express her desire to see it come to an end.