News
March 2011: OneAmerica Companies Now Distributing Premier Trust through Registered
Representatives (
detail)
June 2009: Wilmington Trust Names President in Retirement Services Business
(
detail)
June 2008: Wilmington Trust to Acquire UBS Fiduciary Trust Company (
detail)
May 2008: Wilmington Trust Completes Acquisition of AST Capital Trust Company
(
detail)
July 2007: AST Capital Trust White Paper Examines Collective Funds’ Growing
Popularity (
detail)
News Release
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News Media
Jim Gavin
Media Relations
317-285-4168
jim.gavin@oneamerica.com
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OneAmerica Companies Now Distributing Premier Trust through Registered Representatives
Unique arrangement provides retirement plan option with a pure trust solution and
open architecture
Indianapolis (March 21, 2010) – McCready and Keene, a OneAmerica company, announced
today that its trust solution platform, Premier Trust, is now available for distribution
via registered representatives.
“The ability to sell a retirement plan on the Premier Trust platform means registered
representatives can now offer clients greater flexibility with a robust and extensive
array of fund options,” said Bill Yoerger, senior vice president of the retirement
services division of American United Life Insurance Company® (AUL), a OneAmerica
company. “It provides access to the type of trust solution plan sponsors are expecting
more and more.”
Premier Trust is provided through OneAmerica’s actuarial and consulting firm, McCready
and Keene, Inc., and distributed nationally. It was launched in late 2010 to target
plans with assets of $5 million and above. Premier Trust provides full fee transparency
and can use open architecture to provide access to thousands of mutual funds, or
plan sponsors can choose from a pre-screened line-up of 200 investment options from
38 fund families. In addition, the program offers quarterly due diligence reporting
and a customized approach based on an open investment platform.
Wilmington Trust will serve as trustee and trading partner for Premier Trust plans
sold by registered representatives. “We look forward to continuing our work with
McCready and Keene, Inc. and supporting the Premier Trust platform,” said Charlie
Russella, president of Wilmington Trust Retirement and Institutional Services.
“Launching Premier Trust was a complete recalibration of our capabilities,” said
Mark Glavin, vice president of sales for AUL Retirement Services. “Now, through
the registered rep distribution channel, we throw the doors wide open to expose
many more mid-to-large sized retirement plans to our value-added offerings like
our local service teams, award-winning custom communications and front-of-line processing
and reporting.”
“The truth of the matter is we’re rapidly gaining on the behemoths of our industry,
while still maintaining our dedication to service,” added Yoerger.
About McCready and Keene, Inc.
McCready and Keene, Inc., a OneAmerica company, is an actuarial and retirement benefits
consulting firm that focuses on designing, installing, and administering customized
retirement plans. Based in Indianapolis, IN, McCready and Keene provides trust programs
that can use an open architecture investment platform for defined benefit, 401(k),
403(b), employee stock ownership, money purchase pension, and profit sharing retirement
plans.
About AUL
American United Life Insurance Company® (AUL) is the founding member of OneAmerica®
and is focused on providing a strong portfolio of products for individuals, families
and small businesses. AUL uses a national network of experienced professionals utilizing
an extensive menu of financial products, including life insurance, annuities and
employee benefit plan products. The company helps consumers prepare for tomorrow
by helping to protect their financial futures.
About OneAmerica
OneAmerica Financial Partners, Inc., is headquartered in Indianapolis, IN. The companies
of OneAmerica® can trace their solid foundations back more than 130 years in the
insurance and financial services marketplace.
OneAmerica’s nationwide network of companies offers a variety of products to serve
the financial needs of their policyholders and other clients. These products include
retirement plan products and services; individual life insurance, annuities, long-term
care solutions and employee benefit plan products. The goal of OneAmerica is to
blend the strengths of each company to achieve greater collective results.
The products of the OneAmerica companies are distributed through a network of employees,
agents, brokers and other distribution sources that are committed to increasing
value to our policyholders by helping them prepare to meet their financial goals.
About Wilmington Trust
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.
Wilmington Trust Corporation is not an affiliate of American United Life Insurance
Company®, McCready and Keene, Inc., or OneAmerica and is not a OneAmerica company
McCready and Keene provides administrative and record keeping service and is not
a broker/dealer or an investment advisor. Neither McCready and Keene nor its employees
provide tax, legal or investment advice.
News Release
News Media
Bill Benintende
Public Relations
302-651-8268
wbenintende@wilmingtontrust.com
|
Investors and Analysts
Ellen J. Roberts
Investor Relations
302-651-8069
eroberts@wilmingtontrust.com
|
Wilmington Trust Names President in Retirement Services Business
Charles Russella to head unit in Corporate Client Services
Wilmington, DE, June 10, 2009 – Wilmington Trust announced today that it has named
Charles Russella as president of Wilmington Trust Retirement and Institutional Services
Company (WTRIS), which is part of Wilmington Trust’s Corporate Client Services (CCS)
business.
In his new role, Mr. Russella will be responsible for overseeing all sales, marketing,
and service-related activities for WTRIS’s comprehensive trust solutions. WTRIS
provides trust and custody services for retirement and employee benefit plans, collective
fund services, and institutional account services. Mr. Russella will report to Bill
Farrell, executive vice president of Wilmington Trust and head of CCS. Mr. Russella
succeeds Gregory W. Tschider, who has decided to leave the company to pursue new
opportunities. Mr. Russella and Mr. Tschider came to Wilmington Trust last year
through the acquisition of AST Capital Trust Company (AST), where Mr. Russella had
been part of the executive management team since early 2007. Mr. Tschider will remain
with Wilmington Trust through June 26.
“Charlie is a terrific leader and an accomplished veteran of the retirement services
business,” said Mr. Farrell. “He has been a major part of WTRIS’s success and will
help us continue to grow the business. At the same time, we thank Greg for guiding
us through the process of integrating AST with Wilmington Trust and wish him well
in his future endeavors.”
Mr. Russella brings more than 20 years of experience in corporate trust and retirement
services to his position. Most recently he served as senior vice president and sales
manager overseeing all sales and marketing activities for WTRIS. Prior to joining
Wilmington Trust, Mr. Russella provided strategic leadership to a retirement benefit
and investment consulting firm and served for 14 years in the retirement services
business of U.S. Bank. He holds the Chartered Financial Analyst® (CFA) designation
from the CFA Institute and received an MBA from the University of Detroit and a
bachelor’s degree from Oakland University.
Wilmington Trust has provided trust and custody services for retirement plans for
more than 60 years. Through its 2008 acquisitions of AST and UBS Fiduciary Trust
Company, Wilmington Trust now acts as custodian for more than 4,000 retirement and
employee benefit plans with more than $47 billion in assets. WTRIS is one of the
leading providers of trust and accounting solutions serving clients with “unbundled”
plans who use different providers for record keeping, asset management, and trust
services.
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 36 countries, and Corporate Client
Services for institutional clients in 88 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, Minnesota,
Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman
Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam.
Chartered Financial Analyst® and CFA ® are trademarks owned by the CFA Institute.
News Release
News Media
Bill Benintende
Public Relations
302-651-8268
wbenintende@wilmingtontrust.com
|
Investors and Analysts
Ellen J. Roberts
Investor Relations
302-651-8069
eroberts@wilmingtontrust.com
|
Wilmington Trust to Acquire UBS Fiduciary Trust Company
Second retirement services acquisition of 2008 strengthens market position of a core
business, further diversifies sources of revenue
Wilmington, DE, June 25, 2008 – Wilmington Trust announced today that it has signed
a definitive agreement to acquire UBS Fiduciary Trust Company, a New Jersey-based
provider of trust and investment management services for retirement plans.
UBS Fiduciary Trust Company (UBSFTC) is being acquired from global financial services
company UBS AG. It will become part of the Retirement and Institutional Services
group within Wilmington Trust’s Corporate Client Services (CCS) business. The agreement
represents the second acquisition this year in Wilmington Trust’s retirement services
business. On April 30, 2008, Wilmington Trust completed the acquisition of AST Capital
Trust Company (AST), an Arizona-based provider of directed trustee and trust administration
services offered through financial advisors.
“This new addition of retirement plan assets enhances our position in an expanding
marketplace and underscores our commitment to grow our core businesses,” said Ted
T. Cecala, Wilmington Trust chairman and CEO. “It also creates opportunities for
future growth and further strengthens our diverse sources of revenue.” Wilmington
Trust Corporation Rodney Square North 1100 North Market Street Wilmington, DE 19890-0001
Wilmington Trust has more than six decades of experience servicing retirement plans.
The Retirement and Institutional Services group provides directed trustee, custodial,
trading, and paying agent services to more than 3,000 retirement and employee benefit
plans with more than $41 billion in assets under administration. The planned acquisition
of UBSFTC will add another 800 plans and $5.5 billion in assets under administration
to Wilmington Trust’s retirement services platform, bringing its totals to more
than 3,800 plans and $46 billion in assets, respectively.
Through an existing business alliance, AST already serves as an outsource provider
of fund accounting and benefit payment services to UBSFTC’s retirement plan clients.
The trust and investment management services of the newly acquired company will
continue to be available through 8,200 UBS financial advisors.
“We know USBFTC’s retirement plan business well and understand the needs of their
clients,” said Greg Tschider, head of Wilmington Trust’s Retirement and Institutional
Services group. “Our service delivery is based on our belief in the importance of
building long-lasting relationships with our clients, and we look forward to serving
all of these new Wilmington Trust clients for many years to come.”
Kevin Ruth, chairman of UBS Fiduciary Trust Company and head of Wealth Planning
U.S. for UBS, said, “The sale of UBS Fiduciary Trust Company demonstrates our commitment
to delivering the best client experience for the company’s plan sponsors and participants.
Our clients benefit because it combines their existing UBS financial advisor with
the scalable service model of AST/Wilmington Trust and is consistent with our overall
qualified retirement plan open-architecture approach.”
Pending regulatory approval, Wilmington Trust expects to complete this transaction
by late summer. Since AST already is performing services for UBSFTC, Wilmington
Trust expects the transaction will have little effect on AST’s or Wilmington Trust’s
staffing. Full terms of this all-cash transaction, which will be non-dilutive to
earnings in 2008, were not disclosed.
In addition to offering retirement plan services, CCS is a leading provider of institutional
trustee, agency, asset management, and administrative services for clients worldwide
who use capital market financing structures, as well those who seek to establish
and maintain nexus, or legal residency, for special purpose entities. The acquisition
of UBSFTC follows expansion investments Wilmington Trust made in recent years to
add new products and services to the CCS business and to expand CCS’ presence in
Europe.
This release contains forward-looking statements that reflect Wilmington Trust’s
current expectations. These statements rely on assumptions and estimates and are
subject to risks and uncertainties, including the effect of potential changes in
market conditions.
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-networth clients in 36 countries, and Corporate Client
Services for institutional clients in 86 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, Minnesota,
Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman
Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam.
News Release
News Media
Bill Benintende
Public Relations
302-651-8268
wbenintende@wilmingtontrust.com
|
Investors and Analysts
Ellen J. Roberts
Investor Relations
302-651-8069
eroberts@wilmingtontrust.com
|
Wilmington Trust Completes Acquisition of AST Capital Trust Company
Deal expands Corporate Retirement Services’ market presence, capabilities
Wilmington, DE, May 1, 2008 – Wilmington Trust Corporation (NYSE: WL) announced
it has completed the acquisition of AST Capital Trust Company, an Arizona-based
provider of directed trustee and trust administration services offered through financial
advisors to retirement plans, high-net-worth individuals and families, and institutional
investors.
“This acquisition strengthens our position in the retirement plan services business,
which has been an important contributor to Wilmington Trust’s success for more than
60 years,” said Ted T. Cecala, Wilmington Trust chairman and CEO. “It will also
create more opportunities for growth and further strengthen our sources of revenue.”
AST Capital Trust Company will assume the Wilmington Trust name after a short period.
This transaction adds more than $28 billion of assets under administration to Wilmington
Trust, raising total assets under administration, including corporate and personal
trust accounts, to nearly $114 billion. In the retirement services business, Wilmington
Trust now provides trust, custody, trading, and paying agent services for approximately
$41 billion in assets in more than 3,000 retirement plans and employee benefit plans.
This transaction is expected to add approximately $27 million of revenue (annualized)
and be nondilutive to Wilmington Trust’s earnings in 2008.
“We are seeing increasing demand in the retirement industry for independent and
conflict-free service providers that have leading technology and extensive experience,”
said Bill Farrell, executive vice president of Wilmington Trust and head of the
Corporate Client Services (CCS) business. “This makes the fit between Wilmington
Trust and AST Capital Trust Company ideal. AST brings strategic leadership, superior
technological solutions, and strong industry networks to Wilmington Trust.”
With the closing of the acquisition, all of AST Capital Trust Company’s approximately
170 staff members have joined Wilmington Trust. Most support the retirement services
business from an office in Phoenix, which remains open, and are now part of CCS.
Gregory W. Tschider, former president of AST Capital Trust Company, has been named
to lead Wilmington Trust’s retirement services business. He reports to Mr. Farrell.
Approximately 30 AST Capital Trust Company staff members support the company’s personal
trust administration business from an office in Wilmington, Delaware. This group
has joined Wilmington Trust as members of the Wealth Advisory Services (WAS) business,
which is headed by Mark A. Graham, executive vice president of Wilmington Trust.
“The combination of our two firms leverages our respective strengths and makes our
retirement plan services business even more attractive to a growing marketplace,”
said Mr. Tschider. “Together, we share a commitment to serving clients and alliance
partners seeking a best-of-breed specialist in trust and custody services. We are
excited about the opportunity to grow our business.”
In addition to providing retirement plan services, CCS offers a variety of trustee,
agency, asset management, and administrative services for institutional clients
worldwide who use capital market financing structures, as well as services for clients
who seek to establish and maintain nexus, or legal residency, for special purpose
entities. The AST Capital Trust Company acquisition follows expansion investments
Wilmington Trust made in 2007 and 2006 to expand the CCS business in Europe and
add new products and services.
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-networth clients in 36 countries, and Corporate Client
Services for institutional clients in 86 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, Minnesota,
Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman
Islands, the Channel Islands, London, Dublin, Frankfurt, and Luxembourg.
FOR IMMEDIATE RELEASE
For Further Information:
Bill Benintende
Wilmington Trust
Vice President, Media Relations
302-651-8268
WBenintende@wilmingtontrust.com
COLLECTIVE FUNDS THE FUTURE OF 401(k)s?
AST Capital Trust White Paper Examines Collective Funds’ Growing Popularity
PHOENIX, AZ, July 16 2007 – With a wealth of investment products available
for retirement plans in the marketplace, one in particular is proving to be a very
popular choice. According to a new white paper authored by AST Capital Trust Company,
collective funds are experiencing increasing interest from defined contribution
plans, including 401(k) plans.
The white paper provides an overview of collective funds and examines some of the
more attractive features of collective funds, including:
Ease of Use
Many collective funds are now traded on a daily basis to meet the needs of 401(k)
plans.
Operational Expenses
Cost is certainly a key factor for plan sponsors when considering funds. Since collective
funds are designed for investment only by qualified plans, they are not subject
to those expenses associated with servicing retail clients. Accordingly, collective
funds often have lower expenses.
Increasingly Attractive Alternative to Mutual Funds
In addition to the potential for lower investment expenses, the administrative challenges
associated with using mutual funds within 401(k)s, including short-term trading
restrictions, redemption fees and Rule 22c-2, have contributed to plan sponsors
seeking alternatives to mutual funds.
“It is no surprise that the popularity of collective funds has grown over the past
few years,” says Steve Ferber, Executive Vice President of Collective Fund Services
at AST Capital Trust. “They often offer institutional investors a low-cost, flexible
alternative to mutual funds. With the continuing market demand for lower-fee and
more flexible products, the future looks very promising for collective funds.”
In addition to operational advances, the growth in collective funds has coincided
with an expansion in the capabilities of the National Securities Clearing Corporation’s
Fund/SERV® platform which has enabled collective funds to be seamlessly traded,
like mutual funds, in 401(k) plans.
“Institutional funds, like collective trusts and separate accounts, are increasingly
popular with mid- and large-sized employers as they are significantly less expensive
than mutual funds,” says Pamela Hess, Director of Retirement Research at Hewitt
Associates. She adds, “A seemingly small number of basis points saved over time
can lead to meaningful differences in participant savings.”
For a copy of the full white paper please email
info@wilmingtontrust.com
About AST Capital Trust Company
AST Capital Trust Company is a Delaware State chartered trust company with operations
in Wilmington, DE and Phoenix, AZ. An affiliate of American Stock Transfer & Trust
Company, the country’s largest independent stock transfer company, AST Capital Trust
was originally chartered in 1900. The company provides directed trustee, trust administration
and back-office services to retirement plans, individuals, families, companies,
foundations, organizations and financial institutions. AST Capital Trust works exclusively
with professional advisors to help end-clients achieve financial goals by utilizing
trust strategies and the benefits of Delaware law. AST Capital Trust is one of the
largest independent trust companies in the U.S. and administers over $21 billion
in trust assets. For more information please visit
www.astcapitaltrust.com.