WL Wilmington Trust Corp. (DE)

Wilmington Trust announced today the further expansion of its Corporate Client Services (CCS) business in Europe with the opening of a new office in Frankfurt, Germany. The company has hired Florian A. Schl�ter as managing director of the office to lead its delivery of services that support Germany�s growing securitisation business. Wilmington Trust�s CCS business is a leading provider of capital markets and entity management services in many of the world�s most favourable jurisdictions. It has been active in Europe since its 2002 acquisition of SPV Management Limited, a pioneer of the European securitisation community now known as Wilmington Trust SP Services (London) Limited. Wilmington Trust�s entry into Germany follows the establishment of an office in Dublin, Ireland in late 2004 and the hiring earlier this year of a London-based executive managing director, Christophe Schroeder, to lead CCS� European sales, service, and operations. �Europe is increasingly becoming a driving force in our Corporate Client Services business, and Germany is a key market for us,� said Wilmington Trust chairman and CEO Ted T. Cecala. �This expansion leverages our core services in a new market and reflects our strategy to invest in businesses with excellent growth potential.� The development of Germany�s relatively young securitisation market stems from the German True Sale Initiative, the country�s securitisation platform. Launched in 2004, this platform has allowed for the establishment of German special purpose vehicles (SPVs) and accelerated the growth of German securitisation transactions. Through its CCS business, Wilmington Trust provides services that support SPVs and is positioned to play an integral role in Germany�s growing securitisation market. Mr. Schl�ter, who is a lawyer by training, joins Wilmington Trust from DaimlerChrysler Financial Services AG in Berlin. As director of portfolio management there, he was responsible for the development and implementation of alternative refinancing products in Europe and Asia. Mr. Schl�ter also has extensive experience in foreign trade, export financing, and risk management. �Florian�s work will help us continue Wilmington Trust�s strong momentum in Europe,� said Mr. Schroeder. �His knowledge of the capital markets and securitisation businesses, as well as his relationships with industry participants, enhances our ability to serve Germany�s growing true sale market.� To celebrate the opening of its new Frankfurt office and the establishment of Wilmington Trust SP Services (Frankfurt) GmbH, Wilmington Trust is hosting a reception for industry professionals at Villa Kennedy in Frankfurt on Thursday, October 26 at 7:00 P.M. Wilmington Trust Corporation (NYSE:WL) is a financial services holding company that provides Regional Banking services throughout the Delaware Valley region, Wealth Advisory Services for high-net-worth clients in 22 countries, and Corporate Client Services for institutional clients in 81 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in California, Connecticut, Delaware, Florida, Georgia, Maryland, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, and Frankfurt. For more information, visit www.wilmingtontrust.com. Wilmington Trust announced today the further expansion of its Corporate Client Services (CCS) business in Europe with the opening of a new office in Frankfurt, Germany. The company has hired Florian A. Schluter as managing director of the office to lead its delivery of services that support Germany's growing securitisation business. Wilmington Trust's CCS business is a leading provider of capital markets and entity management services in many of the world's most favourable jurisdictions. It has been active in Europe since its 2002 acquisition of SPV Management Limited, a pioneer of the European securitisation community now known as Wilmington Trust SP Services (London) Limited. Wilmington Trust's entry into Germany follows the establishment of an office in Dublin, Ireland in late 2004 and the hiring earlier this year of a London-based executive managing director, Christophe Schroeder, to lead CCS' European sales, service, and operations. "Europe is increasingly becoming a driving force in our Corporate Client Services business, and Germany is a key market for us," said Wilmington Trust chairman and CEO Ted T. Cecala. "This expansion leverages our core services in a new market and reflects our strategy to invest in businesses with excellent growth potential." The development of Germany's relatively young securitisation market stems from the German True Sale Initiative, the country's securitisation platform. Launched in 2004, this platform has allowed for the establishment of German special purpose vehicles (SPVs) and accelerated the growth of German securitisation transactions. Through its CCS business, Wilmington Trust provides services that support SPVs and is positioned to play an integral role in Germany's growing securitisation market. Mr. Schluter, who is a lawyer by training, joins Wilmington Trust from DaimlerChrysler Financial Services AG in Berlin. As director of portfolio management there, he was responsible for the development and implementation of alternative refinancing products in Europe and Asia. Mr. Schluter also has extensive experience in foreign trade, export financing, and risk management. "Florian's work will help us continue Wilmington Trust's strong momentum in Europe," said Mr. Schroeder. "His knowledge of the capital markets and securitisation businesses, as well as his relationships with industry participants, enhances our ability to serve Germany's growing true sale market." To celebrate the opening of its new Frankfurt office and the establishment of Wilmington Trust SP Services (Frankfurt) GmbH, Wilmington Trust is hosting a reception for industry professionals at Villa Kennedy in Frankfurt on Thursday, October 26 at 7:00 P.M. Wilmington Trust Corporation (NYSE:WL) is a financial services holding company that provides Regional Banking services throughout the Delaware Valley region, Wealth Advisory Services for high-net-worth clients in 22 countries, and Corporate Client Services for institutional clients in 81 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in California, Connecticut, Delaware, Florida, Georgia, Maryland, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, and Frankfurt. For more information, visit www.wilmingtontrust.com.