Wilmington Trust

Companies

Description

Wilmington Trust is one of the top 10 largest American institutions by fiduciary assets. Wilmington Trust is currently a provider of international corporate and institutional services, investment management, and private banking. The firm was founded on July 8, 1903, as a banking, trust, and safe deposit company by DuPont president T. Coleman du Pont. In 2010, it became a subsidiary of M&T Bank.

History

Wilmington Trust was founded on July 8, 1903, by T. Coleman du Pont, then the president of DuPont, to manage the growing fortune of the duPont family. DuPont opened the business in the dining room and parlor of a former private residence at 915 Market Street in Wilmington, Delaware, with a handful of investors and $500,000 in market capitalization.

In 1907, the company moved to the DuPont Building at Tenth & Market Streets. It paid its first dividend (2.5%, $1.25 per share) on August 1, 1908. The company’s first merger occurred on July 15, 1912: the acquisitions of the First National Bank and the National Bank of Wilmington and Brandywine made it the largest bank on the East Coast. In 1971, it became one of the founding members of NASDAQ. In 1999, it moved its listing to the New York Stock Exchange (NYSE).

On November 1, 2010, Wilmington Trust announced a merger with M&T Bank, of Buffalo, New York. The deal valued the 107-year-old company at $3.84 a share, or 46 percent less than its closing price on Oct. 29. Investors received 0.051 shares of Buffalo-based M&T for each Wilmington share.

In 2011, it announced its intention to "voluntarily de-list" from the NYSE upon completion of its merger with M&T Bank.

Wilmington Trust is one of the largest holders of fiduciary assets in the United States.

On May 3, 2018, top executives of Wilmington Trust were found guilty by the United States Department of Justice for falsifying bank records. The four executives received "three- to six-year prison terms".

Rating GlobalNY.biz

Take place
general
№2583
general
Take place
area
№167
In rating
Financial services
area

Mentions in the news

View all

Company Persons

Chief Economist at Wilmington Trust
1 place

NEW YORK COMPANIES


New York business portal GlobalNY.biz includes a huge directory of organizations operating in New York. Here you can easily find all the necessary information about the company. The organization card contains a full info page with a detailed description of the company's activities, logo, contact details and a link to the organization's official website. The reader can also immediately familiarize himself with the staff of the company, see the latest press releases and news block, and also see what line of the rating the company occupies. The rating of a member of the GlobalNY.biz business portal is calculated based on the number of mentions in the New York news and posted press releases containing information about the organization's activities and its achievements. You can also rise in the rating by publishing vacancies, as well as the number of registered persons. At the same time, company representatives can independently see how many times the company's card has been viewed on GlobalNY.biz, as well as promptly correct the information.
We pay special attention to the multifunctionality of the "Companies" section. For your convenience, there is a search box, as well as an industry heading.
New York Business Portal is always up-to-date database of New York enterprises!
Alena Potapova

Development Director
Population
8118275848
Died this year
18118194
Born this year
44573964