WL Wilmington Trust Corp. (DE)

Wilmington Trust Corporation (NYSE: WL) announced it has completed the all-cash acquisition of UBS Fiduciary Trust Company (UBSFTC), which provides trust and investment management services to retirement plans through financial advisors, from financial services company UBS Americas Inc. Effective today, New Jersey-based UBSFTC operates as Wilmington Trust Fiduciary Services Company, which is part of Wilmington Trust�s Corporate Client Services (CCS) business. This is the second acquisition Wilmington Trust has made this year in CCS� retirement and institutional services business. In April, the company acquired Arizona-based AST Capital Trust Company (AST), doubling the capacity of its retirement business. As a result of both acquisitions, Wilmington Trust now provides directed trustee, custodial, trading, and paying agent services to more than 3,800 retirement and employee benefit plans with more than $47 billion in assets under administration. �This acquisition further strengthens our position in retirement services and reflects our commitment to grow this core business,� said Ted T. Cecala, Wilmington Trust chairman and CEO. �We believe it positions us well to capture opportunities for growth and further strengthens our diverse sources of revenue.� This transaction extends a business alliance established in 2007 through which AST, now known as Wilmington Trust Retirement and Institutional Services Company, handled UBSFTC�s operations. Now, Wilmington Trust Fiduciary Services Company will continue those duties, providing fund accounting and benefit payment services, without disruption, to clients of the former UBSFTC. Gregory W. Tschider, president of Wilmington Trust�s Retirement and Institutional Services Company, will also serve as president of Wilmington Trust Fiduciary Services Company. Full terms of this cash transaction, which will be non-dilutive to earnings in 2008, were not disclosed. On an annualized basis, the transaction is expected to add $38 million of revenue and $36 million of expense. It will also add six full-time positions to Wilmington Trust�s staffing. This acquisition represents the third expansion initiative completed in Wilmington Trust�s CCS business this year. In addition to this and the AST acquisition, since July CCS has added 14 capital markets experts who specialize in working with distressed debt, corporate restructurings and bankruptcies, loan administration, high-yield debt issuance, and other capital markets transactions. CCS is a leading provider of institutional trustee, agency, asset management, retirement plan services, and administrative services for clients worldwide who use capital market financing structures, as well as those who seek to establish and maintain nexus, or legal residency, for special purpose entities. About Wilmington Trust 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 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 Arizona, California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam.