Oliver R. Sockwell Jr. Elected to Wilmington Trust BoardOliver R. Sockwell Jr. Elected to Wilmington Trust Board (Photo: Wilming
June 01 2007 - 10:37AM
Business Wire
Wilmington Trust Corporation (NYSE:WL) announced today that Oliver
R. Sockwell Jr. has been elected to its Board of Directors. Mr.
Sockwell, 63, retired in 1997 after 10 years as president and chief
executive officer of the Construction Loan Insurance Association
(Connie Lee), a financial guaranty company. During Mr. Sockwell�s
tenure at Connie Lee, the company guaranteed more than $12 billion
of municipal bond debt issued by colleges, universities, and
hospitals across the United States. From 1998 through 2003 Mr.
Sockwell was an executive-in-residence at the Columbia University
Graduate School of Business, where he taught principles of
executive leadership, counseled students and alumni, and consulted
on special projects for the dean and other senior administrators.
Mr. Sockwell is currently a member of the Board of Overseers and a
director of the Eugene M. Lang Center for Entrepreneurship at
Columbia Business School. �Oliver has extensive experience in
corporate finance, credit risk, and executive leadership, and we
will benefit greatly from his perspective,� said Ted T. Cecala,
Wilmington Trust chairman and chief executive officer. �In
addition, as a long-time resident of Washington, D.C., his
knowledge and insight will help guide the expansion of our Wealth
Advisory Services business in that market.� Prior to Connie Lee,
Mr. Sockwell held various senior positions with the Student Loan
Marketing Association (Sallie Mae), serving as executive vice
president, finance, administration, and planning, from 1984 to
1987. His career also spans investment banking at Smith Barney in
New York, where he structured domestic and international financings
for corporate clients. �My background fits well with Wilmington
Trust�s business, and I am pleased to be joining the Board at this
time in the company�s history,� said Mr. Sockwell. �Wilmington
Trust has a well-conceived strategy, and I am looking forward to
being part of the company�s continued growth.� In addition to
Wilmington Trust, Mr. Sockwell is a director of R.R. Donnelley
& Sons Company and of Liz Claiborne, Inc. He is the founder and
chairman of the Capitol City Foundation, which supports schools and
charitable service organizations. Previously he was a director of
Management Leadership for Tomorrow, Ford�s Theatre, the Washington
Urban League, and the National Center for Learning Disabilities. He
also served as a trustee of the District of Columbia Retirement
Board. Mr. Sockwell holds a Bachelor of Science degree in physics
from Howard University and a master of business administration
degree in finance from Columbia University. Mr. Sockwell�s election
to Wilmington Trust�s Board of Directors Class of 2010 was
effective today. He is an independent director, as are all but two
of the company's 12 other directors. The only two inside directors
are Mr. Cecala and Robert V.A. Harra Jr., Wilmington Trust's
president and chief operating officer. About Wilmington Trust
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, 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