Wilmington Trust Adds Professional Serving Institutional Investment Management Clients
December 02 2010 - 10:51AM
Business Wire
Wilmington Trust, a leading provider of institutional investment
management, trustee and agency, and entity management services
through its Corporate Client Services (CCS) business, announced
that Richard F. Pagnoni, vice president, has joined the Client
Development team. In his new role, Mr. Pagnoni will be responsible
for delivering Wilmington Trust’s suite of investment management
products and services to institutional investors.
Wilmington Trust has extensive experience in active total return
and liquidity strategies for institutional clients such as
corporations, municipalities, community banks, commodity pool
operators, hedge funds, captive insurance companies, executive
compensation plans, pension plans, endowments, and foundations,
among others. Its investment process focuses on preserving capital,
managing risk exposure, and providing consistent returns over the
long term. Each portfolio is customized to the institutional
investor’s specific needs.
Mr. Pagnoni joins Wilmington Trust from Neuberger Berman in New
York, where he was a vice president and strategic relationship
manager serving institutional investors in the Northeast region.
Prior to that, he was a vice president and institutional liquidity
client relationship manager for Lehman Brothers Asset Management in
New York and a vice president and institutional client relationship
manager for Morgan Stanley Investment Management in New York. He
began his career at Morgan Stanley as a financial advisor. Mr.
Pagnoni graduated summa cum laude from Philadelphia University. At
Wilmington Trust, he is based in New York.
“Rich brings terrific experience and strong client relationships
to his position at Wilmington Trust,” said Don MacKelcan, senior
vice president of CCS’s Client Development group. “We are able to
offer institutional clients highly competitive and cost-effective
performance, and Rich is well qualified to bring our message to the
marketplace as we grow this business.”
Through a commitment to the company’s conservative investment
strategy and by offering greater transparency and encouraging
clients to interact directly with investment management
professionals, including portfolio managers and credit analysts,
Wilmington Trust’s institutional investment management revenue has
grown steadily. Since 2001, Wilmington Trust’s institutional
investment management services has recorded an annual growth rate
of 11.5%.
Wilmington Trust’s CCS business offers retirement plan,
institutional trustee, agency, asset management, and administrative
services for corporate clients worldwide, many of which use capital
market financing structures or seek to establish or maintain legal
residency for special purpose entities. Because Wilmington Trust
does not underwrite securities offerings or provide investment
banking services, it is able to deliver corporate trust services
that are conflict-free. Wilmington Trust had $58.4 billion1 in
assets under management and an additional $105.8 billion in assets
under administration at September 30, 2010.
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 89 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.
1 Figure includes assets under management for Wilmington Trust
affiliates Roxbury Capital Management and Cramer Rosenthal
McGlynn.
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