Mercantile Bankshares Corp. announced Tuesday that it had hired Jay M. Wilson to be a vice chairman with primary responsibility for its investment and wealth management division.
Mr. Wilson is to take office Jan. 1, succeeding Kevin McCreadie, who is to remain the chief investment officer and a member of the holding company's senior management team.
Mr. Wilson is a founder, and was a general partner, of Spring Capital Partners, a private equity fund that supplies expansion and acquisition capital to emerging growth companies. He was on Mercantile's board of directors and its trust executive committee from 1989 to 1994 and was an executive vice president in charge of its investment and wealth management division from 1994 to 1997.
He is expected to join the boards of both Mercantile Bankshares and Mercantile-Safe Deposit and Trust Co.
Edward J. Kelly 3d, the Baltimore banking company's chairman and chief executive officer, said he had been talking with Mr. Wilson about rejoining Mercantile since shortly after he took over as chief executive officer in 2001.
Mercantile Bankshares' investment and wealth management division has $21 billion of discretionary assets under management and $46 billion of assets under administration.
