Wilmington Trust Expands Global Focus in Corporate Client Services Business

WILMINGTON, Del.--(BUSINESS WIRE)--Wilmington Trust (NYSE: WL), a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, announced that it has hired corporate trust professionals Douglas Lavelle and Thomas Mackay to support the global expansion of its capital markets services.

Wilmington Trust has steadily grown its CCS business globally in recent years, particularly in Europe. The company currently operates in several preferred jurisdictions for corporate business outside of the United States, including London, Dublin, Frankfurt, Luxembourg, and Amsterdam, as well in the Cayman Islands and the Channel Islands. These markets extend CCS’ ability to provide its core services beyond domestic U.S. jurisdictions in Delaware, Michigan, Minnesota, Nevada, New York, South Carolina, and Vermont.

“Our clients have the convenience of accessing multiple services and jurisdictions through a single, conflict-free provider with decades of experience,” said Bill Farrell, executive vice president and head of CCS. “Our growth has helped CCS become an increasingly important component in the diverse sources of Wilmington Trust’s revenues.”

CCS’ core services include entity management services, which help clients establish legal standing by providing administrative services for holding companies and special purpose vehicles; capital markets services, including trustee and administrative services for structured finance and other transactions; trustee services for corporate retirement plans; and institutional investment management services. CCS’ capital markets services have grown through the financial crisis, which has caused many providers to reevaluate their offerings and led to a significant level of client dislocation. The crisis has also put a spotlight on CCS’ distressed debt, loan administration, and bankruptcy services, as Wilmington Trust has now served as a trustee in six of the 10 largest bankruptcies in U.S. history.

Messrs. Lavelle and Mackay are based in New York and join Wilmington Trust from HSBC Bank USA, N.A. (HSBC). Mr. Lavelle was a senior vice president and head of business development in HSBC’s Corporate Trust and Loan Agency group. He previously served sovereign and global corporate clients at The Bank of New York Mellon and J.P. Morgan Chase & Co. Mr. Mackay was a senior vice president and unit manager on HSBC’s Global Debt, Agency, and Bankruptcy team. Earlier, he spent 21 years servicing global corporate clients at J.P. Morgan Chase & Co.

“We have successfully grown our CCS business globally because of our focus on delivering superior service and execution,” said Jack Beeson, senior vice president and head of Corporate Capital Markets Services for CCS. “Doug and Tom are great additions to the CCS team. Their experience strengthens our ability to serve corporate clients in important global jurisdictions and will help continue our momentum.”

The ongoing global expansion of its capital markets services is the latest in a series of growth initiatives within CCS. Since early 2008, CCS has made two acquisitions in its corporate retirement services business, added a team of specialists in distressed debt, loan administration, and bankruptcy services, and assumed responsibility for several corporate trustee services formerly performed by LaSalle Bank N.A., a result of LaSalle’s merger with Bank of America.

“Our strategy is to be the preferred choice for corporate executives and their advisors,” said Christophe Schroeder, executive managing director and head of CCS’ European business. “In Europe, we have been seeing steady interest in new securitizations and opportunities to provide loan agency and other services for distressed organizations and transactions.”

Wilmington Trust Corporation 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 88 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, Michigan, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam.