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Wilmington Trust Hires Head of Credit Risk Management

^{Published on 2010-08-16 13:40:22 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--Wilmington Trust (NYSE: WL) announced today that it has hired Robert P. Gehring as vice president and head of the Credit Risk Management Division. A 39-year veteran of commercial banking, Mr. Gehring has extensive experience in commercial real estate lending, credit policy, underwriting, credit administration, and risk management at East Coast regional banks, including 30 years with banks in the mid-Atlantic region. At Wilmington Trust, he is responsible for all aspects of credit risk management, including the internal risk rating process and oversight of the reserve for loan losses. Mr. Gehring manages a team of 26 credit reviewers and analysts.

"Boba™s hiring is one example of the resources we are devoting to reducing risk in our loan portfolio"

aBoba™s hiring is one example of the resources we are devoting to reducing risk in our loan portfolio,a said Donald E. Foley, Wilmington Trust chairman and CEO. aHe has extensive experience and expertise covering every aspect in the life cycle of all types of commercial loans, including commercial real estate construction loans. We expect to benefit greatly from Boba™s knowledge of our lending market, his disciplined approach, and his strong management skills. a

Mr. Gehringa™s commercial banking experience in the mid-Atlantic region includes tenures with predecessors of Wells Fargo (including Wachovia Bank and CoreStates Financial), Wilmington Savings Fund Society (WSFS), Commonwealth Bank, and Parke Bank. Over the last several years, he has held credit administration and risk management responsibilities with financial firms in Florida, including Bennington Partners, LLC, Whitney National Bank, and, most recently, Peninsula Bank, where he was recruited to restructure credit review, credit underwriting, and commercial and real estate lending policies and procedures. A native of Philadelphia, Mr. Gehring served in the United States Army and holds a degree in business management from Peirce College.

aWilmington Trust has made significant progress in managing credit risk over the past year, and I look forward to working with the team to help ensure that we are assessing and evaluating our loans in an accurate and timely manner,a Mr. Gehring said. aThe company has a strong legacy in banking and service to the community, and I am proud to join it.a

Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides Regional Banking services throughout the mid-Atlantic region, Wealth Advisory services to high-net-worth clients in 36 countries, and Corporate Client services to institutional clients in 89 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. For more information, visit [ www.wilmingtontrust.com ].