Wilmington Trust Adds Professional Serving Institutional Investment Management Clients

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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