Family Office
Wilmington names western regional head
Trust co. wants to increase presence in lucrative California
markets. Wilmington Trust has named former U.S. Trust executive
Gregory Sanford to the position of president, Wilmington Trust
FSB California. That makes Sandford head of Wilmington’s wealth
management business in the Western U.S., a role comparable to the
one he played as CEO of U.S. Trust’s western region. Wilmington
says the appointment is a part of its efforts to deepen its
footprint in the Golden State.
“Greg is a seasoned industry veteran and will be an excellent
leader for the western region,” says Peter Atwater, head of
relationship management for Wilmington’s national wealth
advisory. “He will help us build on our successes to date, ramp
up our visibility, and capture the great growth opportunities
that stem from the outstanding quality and breadth of the wealth
advisory services we provide.”
Reporting to Atwater, Sanford will be responsible for developing
and delivering advisory services for high-net-worth clients and
foundations in the West.
Help wanted
Rodney Wood, head of the Wilmington’s Wealth Advisory business,
calls Sanford’s appointment “the latest strategic move Wilmington
Trust has made in recent months to grow in southern California.”
Last year the Wilmington, Del.-based trust-service provider paid
an undisclosed price for a 90% stake in Beverly Hills,
Calif.-based multi-family office and business management boutique
Grant Tani Barash & Altman.
At the time, observers said the Grant Tani acquisition stood to
increase Wilmington’s profile among the ultra-affluent in
southern California. But some added that Wilmington would have to
figure out how to get Grant Tani’s highly personal approach to
client service on a national platform in order to get the most
for its money.
During his eight years as head of U.S. Trust’s western region,
Sanford “grew the company's assets under management, number of
employees, and number of offices in the region,” according to a
Wilmington press release. Before that, he headed Security Pacific
Bank’s investment management, trust, and private banking
businesses in the West.
Wilmington, the fifteenth-largest personal trust service provider in the U.S., managed $36.5 billion in client assets at the end of March 2005. It has offices in California, Delaware, Florida, Georgia, Maryland, Nevada, New York, Pennsylvania, the Cayman Islands, the Channel Islands, London, and Dublin. –FWR
