Wilmington Trust Expands Corporate Client Services to Germany
October 18 2006 - 2:00AM
Business Wire
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.
Wilmington (NYSE:WL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Wilmington (NYSE:WL)
Historical Stock Chart
From Jul 2023 to Jul 2024