Firm completes first half of 2020 with largest upward move among competitors in trustee tables
Wilmington, Del., July 23, 2020 – Wilmington Trust, a leader in corporate and institutional trust services, is proud to announce that it ranks second in U.S. asset-backed securities (ABS) and mortgage-backed securities (MBS) deals captured the first half of 2020, according to the mid-year trustee tables from Asset-Backed Alert.
The firm moved up to second place by number of deals completed, and third place from fifth a year ago in terms of market issuance, and was one of only two trustees to increase in this category, with a 13% uptick to $21.3 billion. It also increased its market share to 15.5%, up from 10.4% last year, by far the largest upward move among trustees.
“Our rise in this industry-leading trustee ranking within the ABS/MBS market is a testament to our continued investment and commitment to the structured finance industry, and we thank our clients, business partners and our great team,” said Patrick Tadie, Senior Vice President of Structured Finance, Wilmington Trust. “We’re proud of our structured finance team’s accomplishments and look forward to continuing the momentum into the second half of the year.”
The rankings analysis noted that Wilmington Trust’s success was due in part to the number and size of offerings backed by auto loans, as well as mortgage-related deals that coincided with issuers beginning to return to the market in May and June.
In a separate table on global collateralized loan obligations (CLOs) for the first half of 2020, Wilmington Trust also moved up, from fifth place to fourth place. Its CLO market share is 8.1%, with $4.2 billion in issuance, up from 5.7% in 2019. The firm outperformed all peers in terms of percent change in issuance compared to the prior year.
Wilmington Trust offers specialized trust services for capital markets financing structures, customized institutional investment capabilities and institutional custody services for clients in more than 90 countries.
Asset-Backed Alert produces its trustee league tables for publicly offered and privately placed securitizations. It only counts rated deals and CLO refinancing deals and continuously offered products, such as those from commercial paper conduits and the swap portions of synthetic offerings. For more information on the trustee tables, click here.
ABOUT WILMINGTON TRUST
Wilmington Trust, N.A. provides Corporate and Institutional Services including institutional trust, agency, asset management, retirement plan, agency, asset management, and administrative services for clients worldwide who use capital markets financing structures. Wilmington Trust provides direct trust, custody, and fiduciary services for retirement plans, companies, foundations, organizations and financial institutions.
Wilmington Trust also provides Wealth Advisory services with a wide array of personal trust, financial planning, fiduciary, asset management, and family office solutions designed to help high-net-worth individuals and families grow, preserve, and transfer wealth.
Wilmington Trust maintains offices throughout the United States and internationally in London, Paris, Dublin, and Frankfurt. For more information, visit www.WilmingtonTrust.com.