WL Wilmington Trust Corp. (DE)

Wilmington Trust Corporation (NYSE:WL) announced it has completed the acquisition of Bingham Legg Advisers LLC, a Boston-based wealth management firm that specializes in tax-sensitive investment strategies for high-net-worth individuals and families. Bingham Legg Advisers (BLA) is now under the Wilmington Trust name and its employees are staff members of Wilmington Trust. BLA president and CEO Peter E. Simmons is now president of Wilmington Trust�s Wealth Advisory Services (WAS) office in Boston, which is located in the financial district on Milk Street. �With the acquisition of BLA complete, Wilmington Trust now has an outstanding team of wealth advisors on the ground in one of the nation�s top high-net-worth markets,� said Ted T. Cecala, Wilmington Trust chairman and CEO. �Our expansion into Boston leverages investments we have already made in our company and reflects our strategy to grow our businesses.� BLA was established in 1999 in a joint venture between what is now Bingham McCutchen LLP, a leading international law firm, and global asset manager Legg Mason, Inc. BLA has high-net-worth clients in the U.S., Europe, and Asia. As of March 31, 2007, BLA had $1.5 billion in assets under management and another $887 million in assets under supervision. �We are pleased to become part of Wilmington Trust and look forward to helping the company grow its presence in Boston and throughout New England,� said Mr. Simmons. �This alignment strengthens our capabilities and allows us to add new services for our clients.� Terms of the deal announced on May 7 were not disclosed. BLA�s revenue and expenses will be consolidated into Wilmington Trust�s financial statements. The acquisition is expected to be modestly accretive to Wilmington Trust�s earnings in 2007. This acquisition follows other investments Wilmington Trust has made in recent years in its WAS business, which provides investment management, fiduciary services, and family office services to affluent clients in all 50 states and in 35 other countries. In 2006, Wilmington Trust significantly expanded its family office services practice on the East Coast by opening new WAS offices in Connecticut, New Jersey, and Pennsylvania, and added fundamentally weighted and multi-manager real asset mutual funds to its investment platform. �Although we have served high-net-worth clients in New England for many years, we have been seeking the right opportunity to expand our physical presence in the region,� said Rodney P. Wood, executive vice president and head of the WAS business for Wilmington Trust. �With a similar approach to client service and an excellent reputation, BLA was the ideal fit.� 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 36 countries, and Corporate Client Services for institutional clients in 86 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, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, and Luxembourg. For more information, visit www.wilmingtontrust.com.