Wilmington Trust Adds Experts to Capital Markets Group in Corporate Client Services Business
July 15 2008 - 8:27AM
Business Wire
Wilmington Trust announced today that it has hired 12 corporate
trust experts in its Corporate Client Services (CCS) business to
augment the administrative services it performs for corporate
participants in capital markets transactions. These staff additions
follow investments Wilmington Trust has made in recent years to
grow its CCS business, including introducing new products and
services, strengthening existing operations, and expanding in
Europe. The new staff members specialize in providing
administrative services for corporate debt issuances; corporate
debt defaults; mergers and acquisitions, including escrow services;
and corporate restructurings, while offering other fiduciary and
agency services. Their hiring also follows the addition of a group
of corporate trust professionals brought on last year to perform
administrative services for global project finance transactions,
global and cross-border trusts, and other capital markets financing
structures. �Current stresses in the credit markets have given rise
to the restructuring of many large-scale capital markets
transactions,� said Ted T. Cecala, Wilmington Trust chairman and
CEO. �This market force, combined with a shrinking number of
capital markets service providers, presents an opportunity for CCS
to grow in this attractive market segment.� The new staff members
will be led by Lon LeClair, a 15-year industry veteran who most
recently headed a corporate products group for a major corporate
trust services organization in Minneapolis. Mr. LeClair will be
joined by colleagues Julie Becker, Joe Clark, Peter Finkel, Frank
McDonald, Tim Mowdy, Joe O�Donnell, Jeff Rose, Kristin Schillinger,
Jane Schweiger, Nick Tally, and Barbara Thomas. �Despite a severe
slowdown in some segments of the capital markets in recent months,
including asset-backed securitizations and collateralized debt
obligations, other segments, including corporate restructuring and
bankruptcy trustee assignments, are growing,� said Jack Beeson,
senior vice president and head of the Capital Markets Group in CCS.
�Our new staff members add talent, depth, and experience to a
capital markets team that, we believe, is among the premier
providers of administrative services in the industry.� Wilmington
Trust�s CCS business is a leading provider of trustee, agency,
administrative, and investment management services for
institutional clients worldwide. Because Wilmington Trust does not
participate in most corporate financing, securities underwriting,
or certain advisory activities, the company is often selected as a
preferred provider of the conflict-free services that many
corporate clients require. Wilmington Trust Corporation (NYSE:WL)
is a financial services holding company that provides Regional
Banking services throughout the mid-Atlantic 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 Arizona, California, Connecticut,
Delaware, Florida, Georgia, Maryland, Massachusetts, Minnesota,
Nevada, New Jersey, New York, Pennsylvania, South Carolina,
Vermont, the Cayman Islands, the Channel Islands, London, Dublin,
Frankfurt, Luxembourg, and Amsterdam.
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