Smithfield Trust takes on big banks in volatile cash management market. (Smithfield Trust Co.)

Company promises service to $500,000-plus account holders

DOWNTOWN - A new trust bank has opened its doors, hoping to give the trust departments of Pittsburgh's three big banks a run for their money.

Smithfield Trust Co. principals include a former Integra Bank trust official and two former Buchanan Ingersoll attorneys. It has trust powers only, meaning it does not give loans or accept deposits.

With a $500,000 minimum account level for individuals, Smithfield Trust handles money primarily for wealthy individuals and charities.

Located in National City Center, Downtown, the trust's six principals and founders are: Robert Kopf, a former estate attorney …