Wilmington Trust Increases Focus on Serving Endowments and Foundations
08 Février 2011 - 5:00PM
Business Wire
Wilmington Trust, one of the nation’s leading wealth management
companies, announced that F. Mackey Hughes has joined the firm as
managing director of endowments and foundations for the Wealth
Advisory Services (WAS) business. In this newly created role, Mr.
Hughes will lead business strategy and market development with
endowments, foundations, and other nonprofit organizations and
present the full scope of WAS’s investment, fiduciary, and custody
capabilities. Mr. Hughes will be based in the Baltimore, Maryland
office of Wilmington Trust FSB.
“Effectively managing an endowment or foundation in the 21st
century requires deep investment expertise and extensive fiduciary
and custody experience,” said Mark A. Graham, executive vice
president and head of WAS. “In Mackey, we have added a
well-respected veteran whose skills, experience, and consultative
approach will help our clients meet their broad
responsibilities.”
Wilmington Trust has served endowments and foundations
historically, but the hiring of Mr. Hughes is the latest step in a
WAS business strategy dedicated to providing these institutions
with access to additional investment and fiduciary resources. Other
recent moves in this area involved the hiring of teams in
Wilmington Trust FSB’s New York and Boston offices who specialize
in serving endowments and foundations.
Mr. Hughes joins Wilmington Trust from Camden Partners, LLC, a
Baltimore-based private equity firm in which Wilmington Trust owns
a minority stake. There, Mr. Hughes was the business development
partner responsible for delivering diversified, private equity
fund-of-funds portfolios to clients, who included endowments,
foundations, pension funds, family offices, and high-net-worth
individuals, among others. Before his five-year tenure at Camden,
Mr. Hughes held senior positions over a 19-year period with
Deutsche Bank Alex. Brown. These positions included head of sales
management and business development, managing director of sales in
the Baltimore and Los Angeles offices, and managing director of the
real estate group. Mr. Hughes holds an undergraduate degree and an
MBA from the University of North Carolina at Greensboro.
“With its long history of investment management, fiduciary, and
custody expertise, Wilmington Trust is exceedingly well positioned
to serve endowments, foundations, pension funds, and other
nonprofit organizations,” Mr. Hughes said. “We fully understand the
responsibilities these clients have and the complex regulatory
environments they face, and we are prepared to go beyond the
investment discussion and help with issues related to governance
and custody as well as philanthropy and fundraising. We believe
this helps distinguish us from other service providers.”
Wilmington Trust’s Wealth Advisory Services business offers a
comprehensive array of asset management, personal trust, wealth
planning, fiduciary, and family office services that help clients
grow, preserve, and transfer wealth. The business maintains 20
offices in key high-net-worth markets throughout the United
States.
Wilmington Trust Corporation (NYSE: WL) is a financial services
holding company that provides Regional Banking services throughout
the mid-Atlantic region, Wealth Advisory Services for
high-net-worth clients in 33 countries, and Corporate Client
Services for institutional clients in 90 countries. Its wholly
owned bank subsidiary, Wilmington Trust Company, which was founded
in 1903, is one of the largest personal trust providers in the
United States and the leading retail and commercial bank in
Delaware. Wilmington Trust Corporation and its affiliates have
offices in Arizona, California, Connecticut, Delaware, Florida,
Georgia, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New
Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman
Islands, the Channel Islands, London, Dublin, Frankfurt,
Luxembourg, and Amsterdam.
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