- Wilmington Trust
company_name = Wilmington Trust
company_type = Public (NYSE|WL)
foundation = 1903
key_people = Ted Thomas Cecala, CEO & Chairman & Robert V.A. Harra Jr., President & COO
num_employees = 2,672
industry = Financial
products = Banking
homepage = [http://www.wilmingtontrust.com www.wilmingtontrust.com] |
Wilmington Trust (NYSE|WL) was founded on
July 8, 1903as a banking, trust, and safe deposit company by DuPontpresident T. Coleman du Pont. He opened the business in the dining room and parlor of a former private residence at 915 Market Street in Wilmington, Delawarewith a handful of investors and $500,000 in market capitalization.
In 1907 the company moved to the DuPont Building at Tenth & Market Streets and paid its first dividend (2.50% or $1.25 per share) on
August 1, 1908. The company’s first merger occurred on July 15, 1912with the acquisitions of the First National Bank and the National Bank of Wilmington & Brandywine, making it the largest bank on the East Coast. In 1971, it became one of the founding members of NASDAQand moved its listing to the New York Stock Exchangein 1999.
The Bank is divided into 3 sections: Regional Banking, Corporate Client Services and Wealth Advisory Services.
1) Regional Banking services to commercial clients throughout the mid-Atlantic region as well as providing consumer services to clients in the immediate Delaware region.
2) Corporate Client Services caters to the needs of institutional clients in over 86 countries.
3) Wealth Advisory Services caters to high-net-worth clients throughout the United States and in 35 other countries.
For 2007, net income was stated at $182 million. Additionally, combined assets under management totaled $49.8 billion by the end of 2007, an increase of 11% from 2006.
Currently, the corporate headquarters for Wilmington Trust is in
In addition, it has domestic offices located in
New York City, Los Angeles, Boston, Philadelphia, Las Vegas, Phoenix, Atlanta, Baltimore, Beverly Hills, Stamford (CT), Palm Beach, West Chester (PA), Villanova (PA) and Charleston (SC).
Internationally, Wilmington Trust has offices in the
Cayman Islands, Channel Islands, Dublin, Frankfurt, London, Luxembourgand the Netherlands.
* [http://www.wilmingtontrust.com/wtcom/index.jsp?section=Invest&fileid=9 Corporate Information]
* [http://www.wilmingtontrust.com/repositories/wtc_sitecontent/PDF/AR-2007-Total.pdf 2007 Annual Report]
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