Wilmington Trust, a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, is expanding its London headquarters to meet increased demand for its Trust and Agency services and has moved to a larger space at the new 1 King’s Arms Yard building.
The new office will serve as headquarters for Wilmington Trust’s CCS business in Europe. It occupies approximately 8,000 square feet on the third floor, with capacity for up to 70 staff members. The new space nearly doubles the size of the company’s former offices and brings together the current 30-member London team into one location.
“As demand for our high-quality services continues to increase, our new space in the heart of the City of London allows us to better serve the needs of clients,” said Christophe Schroeder
, executive managing director of CCS’s European business. “Our entire team of specialists, from a range of disciplines, can serve clients at a single location. It also gives us the capacity we need to grow as our business expands.”
Last year, Wilmington Trust introduced its “One Global Model” initiative to reinforce the company’s ability to serve corporate clients in global capital markets and accelerate CCS’s continuing growth. CCS’s global expansion initiatives date to 2002, when Wilmington Trust established a presence in London. Since then, the company has opened offices in Dublin, Frankfurt, and Amsterdam, acquired a provider in Luxembourg, and increased staff in its Grand Cayman office. This has helped multinational clients who want to combine the advantages available in multiple jurisdictions with the convenience of working with a single service provider.
In addition to increasing the jurisdictions in which it operates, CCS has expanded its product offerings to accommodate developments in the marketplace. In recent years, CCS has added teams of experts in loan administration, corporate restructuring, high-yield debt issue services, tender option bond services, insurance trusts, and project and equipment finance. Wilmington Trust’s growth has also been bolstered by changes in the competitive landscape which have led to new client acquisitions and increased demand for CCS’s distressed debt, bankruptcy, and successor trustee and loan administration services.