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Jay M. Wilson, Stephen H. McKnight Affiliate With Wilmington Trust FSB

^{Published on 2010-08-17 06:05:42 - Market Wire}
 

BALTIMORE--([ BUSINESS WIRE ])--Wilmington Trust FSB, the Baltimore-based federal savings bank subsidiary of Wilmington Trust Corporation (NYSE: WL), announced today that Jay M. Wilson and Stephen H. McKnight have been elected as members of the subsidiarya™s Board of Directors. At the same time, Wilmington Trust Corporation Chairman and CEO Donald E. Foley has been elected to the additional post as the subsidiarya™s chairman, succeeding Ted T. Cecala, who retired.

"Each one has enjoyed a long and distinguished career marked by significant accomplishments. Their business acumen will serve us well as we grow our wealth advisory and commercial banking businesses in markets outside of Delaware."

aJay and Steve have extensive experience and deep expertise in the financial services industry and are terrific additions to the Board of our subsidiary, Wilmington Trust FSB,a said Mr. Foley. aEach one has enjoyed a long and distinguished career marked by significant accomplishments. Their business acumen will serve us well as we grow our wealth advisory and commercial banking businesses in markets outside of Delaware.a

Mr. Wilson was vice chairman and a director of Mercantile Bankshares Corporation and CEO of its Investment and Wealth Management Division. He retired in 2008 following Mercantilea™s acquisition by PNC Financial Services. Prior to his career at Mercantile, Mr. Wilson was founder and general partner of Spring Capital Partners, L.P., a private equity fund, where he continues to serve on the Board. He was also president and CEO of Steeltin Can Corporation, a container manufacturing company that is now part of Ball Corporation.

Mr. Wilson has been engaged in many civic and charitable activities throughout his career, including at the Walters Art Museum, where he has served on the Board for 34 years and as president for 12; the Baltimore Symphony, where he was on the Board for 16 years, including 10 as vice chair; and the Baltimore Community Foundation, where he currently serves on the Executive Committee. Mr. Wilson also chairs the Advisory Council of the Department of Art and Archaeology at Princeton University, from which he graduated magna cum laude. He earned an MBA, with High Distinction, from Harvard Business School, and has received numerous awards and citations for his service to the community.

Mr. McKnight, who isa founding principal of Pitt Southwest Investors, a private real estate and development company, has been active in direct real estate investment and management since 1989. His firms have acquired and syndicated numerous apartment, office, condominium, and land investment properties throughout the Southwest totaling approximately 2.5 million square feet.

Mr. McKnight spent the bulk of his corporate career with Mellon Bank in Pittsburgh, where he last served as senior vice president and deputy head of credit policy functions for the commercial real estate department, while holding significant lending authority. All real estate department support functions, including appraisal, cost evaluation, loan administration, and risk analysis for bank-wide commercial lending reported to Mr. McKnight. During 14 years at Mellon, Mr. McKnight underwrote or approved more than $1.5 billion in real estate projects, in addition to holding his senior management responsibilities. He graduated from the University of Pennsylvania and received an MBA from the University of Pittsburgh. Mr. McKnight is a former trustee of Shady Side Academy, where he was vice chairman and headed the Finance Committee. He was also a longtime member of the St. Margaret Memorial Hospital Foundation Board of Directors, for which he chaired the Audit and Endowment Sub-committee and the Finance Committee, among his other community activities.

Wilmington Trust FSB offers a comprehensive array of personal trust, wealth planning, fiduciary, asset management, and family office services that help clients grow, preserve, and transfer wealth. In the mid-Atlantic region, Wilmington Trust FSB also offers specialized commercial banking services for clients with family-owned and closely held businesses with up to $250 million in annual sales. In this region, wealth advisory and commercial banking services are provided using a team approach that pairs wealth advisors and commercial bankers with high-net-worth clients. These teams address clientsa™ needs as they establish their business and their familiesa™ wealth management needs as their businesses prosper. Wilmington Trust FSB also includes WTDirect, a division that offers online savings accounts and serves clients in all 50 U.S. states.

Wilmington Trust Corporation 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 ].