Wilmington Trust, a leading provider of institutional trust, agency, and administrative services through its Corporate Client Services (CCS) business announced today that it has added a team of business development professionals to enhance its ability to provide retirement solutions to a targeted segment of plan sponsors. CCS, through its Retirement and Institutional Services (WTRIS) business, provides trust and custody services for retirement plans and institutional investors through relationships with participant recordkeepers, third-party administrators, financial advisors, and institutional consultants.
In these newly created positions, Stephen Johnson and Eric Mull will partner with Wilmington Trust’s existing network of financial advisors and third-party administrators to deliver trust solutions directly to a targeted segment of plan sponsors. The new team brings retirement plan expertise and experience in the auto industry, and will report to Rob Barnett, vice president and senior client development officer for WTRIS.
Johnson and Mull have more than 30 years of combined financial services sales and marketing management experience. Most recently, Johnson served as director of business development and client service for NADART. Prior to that, he was institutional business development manager for Canada Life Assurance. Johnson earned a bachelor’s degree at the University of Maryland.
Mull previously served as senior retirement services consultant for NADART. He has specific expertise in retirement plan compliance and plan execution. Mull earned a bachelor’s degree from Bucknell University.
Johnson is based in Baltimore, Md. and will provide sales and client support coverage to the eastern region. Mull is based in Denver, Colo. and will provide sales and client support to the western region.
Wilmington Trust has provided trust and custody services for retirement plans for more than 60 years. WTRIS is one of the nation’s leading providers of trust and accounting solutions serving clients whose “unbundled” plans use different providers for recordkeeping, asset management, and trust and custody services.
“Adding professionals with extensive experience working directly with plan sponsors will help us meet the needs of our clients and continue the momentum of our retirement services business,” said Charles Russella
, president of WTRIS. “Our retirement business continues to be a leading provider of customized, solution-based services for all types of retirement plans and is a key priority for the CCS business.”
Wilmington Trust’s CCS business offers retirement plan, trust, agency, asset management, and administrative services for corporate and institutional clients, and their advisors, worldwide, many of which use capital market financing structures or seek to establish or maintain legal residency for special purpose entities. Wilmington Trust does not underwrite securities offerings or provide investment banking services, making it the ideal alternative for clients that require customized, solution-based services. CCS services more than 4,000 plans and, as of June 30, 2011, WTRIS had more than $56.6 billion in assets under administration. WTRIS is one of the key elements of the CCS business. Wilmington Trust’s retirement services revenue grew from $67.5 million in 2009 to $87.2 million in 2010, an increase of 29 percent.