Richard Klumpp is responsible for managing all administrative and business operations for Wilmington Trust SP Services, Inc. and its subsidiaries. These companies provide a wide array of nexus services to a variety of special purpose vehicles involved in either securitizations, structured finance transactions, corporate reorganizations, risk management, or financial planning strategies that take place domestically and in the Caribbean.
Klumpp was instrumental in revising the Delaware Captive Insurance Statute in 2005 and in establishing the Delaware Captive Insurance Association (“DCIA”), of which he has served as president and as a member of the Board of Directors since its inception. He regularly presents on the benefits and day to day operational aspects of captives, including serving as a lecturer in the University of Delaware Captive Risk Management Certificate Program in 2012. He also authors a bi-weekly Blog on captive related topics. Klumpp joined Wilmington Trust SP Services in 1996 and spent four years leading the Las Vegas, Nevada subsidiary prior to his current position.
Klumpp holds a Juris Doctor from Widener University School of Law and a bachelor’s degree in Accounting, with a minor in Economics, from the University of Delaware. He received his Certified Public Accountant certificate in Delaware.
In addition to his roles on the DCIA, Klumpp serves on the Board of Trustees of Ingleside Homes, Inc., a local non-profit organization that provides various care levels of retirement living to senior citizens. He is a member of the American Institute of CPAs, the Delaware Society of CPAs, and the American Bar Association JD Division.
- Nexus services for special purpose vehicles (SPVs)
- Domestic and offshore SPVs
- Captive Insurance
- Client relationship management