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Wilmington Trust Hires Carol Baldwin Moody to Head Enterprise Risk Management

^{Published on 2010-08-23 06:25:28 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--Wilmington Trust (NYSE: WL) announced today that it has hired Carol Baldwin Moody as senior vice president and chief risk officer to head a newly centralized Enterprise Risk Management Division. An attorney and 25-year financial services industry veteran, Ms. Baldwin Moody has extensive U.S. and international experience in legal, compliance, and risk management in the banking, insurance, pension, private equity, and mutual fund sectors.

"Carola™s broad-based background made her the ideal candidate to lead our risk management efforts, and we expect to benefit greatly from her expertise."

At Wilmington Trust, Ms. Baldwin Moody leads the direction and execution of all aspects of risk management, including credit, legal, compliance, fiduciary, financial, operational, reputational, strategic, technology, fraud, human resources, and business-continuity risk. She is responsible for ensuring consistency in, and adherence to, the companya™s framework of risk management standards, policies, and procedures. She reports directly to Donald E. Foley, Wilmington Trusta™s chairman and CEO. She also works closely with the companya™s general counsel, Michael A. DiGregorio, and the Board of Directorsa™ Risk Management Committee. The Risk Management Committee, which is chaired by lead director Louis J. Freeh, oversees her efforts and will conduct her performance reviews.

aGiven the changing regulatory landscape and our plans to expand our Corporate Client and Wealth Advisory businesses internationally, centralizing our risk management activities became imperative,a said Mr. Foley. aCarola™s broad-based background made her the ideal candidate to lead our risk management efforts, and we expect to benefit greatly from her expertise.a

Ms. Baldwin Moody joined Wilmington Trust from Nationwide Insurance, where she was senior vice president and chief compliance officer. In that role, she led a centralized team of professionals who worked to ensure regulatory compliance and the alignment of all risk management activities throughout the company. Prior to Nationwide, Ms. Baldwin Moody was chief compliance officer for TIAA-CREF, where the scope of her responsibilities included compliance management of the organizationa™s mutual fund complex and investment advisors. She also served as managing director and general counsel of TCW/Latin America Partners, a private equity firm. Before that, she worked for Citicorp, where she started as a senior attorney and rose to become head of compliance for the Global Relationship Bank and the first African-American woman on Citicorpa™s corporate leadership team. She began her career as a corporate attorney at the law firm of Debevoise & Plimpton. A native of Philadelphia, Ms. Baldwin Moody holds a bachelora™s degree in finance from the Wharton School of the University of Pennsylvania and a juris doctor (J.D.) degree from Columbia Law School.

From 2003 until earlier this month, Ms. Baldwin Moody was a director of Carver Bancorp, Inc., the New York City-based holding company for Carver Federal Savings Bank, which is the largest African-American-operated bank in the United States. As a Carver director, she chaired the Compensation Committee and served as a member of the Finance and Audit Committee and the Executive Committee.

aMy career has been one of enhancing compliance cultures and strengthening effective risk management standards and procedures for major financial institutions,a said Ms. Baldwin Moody. aI look forward to applying my experience to this newly centralized role at Wilmington Trust.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 ].