Wilmington Trust Corp. announced Monday that it had completed its acquisition of Bingham Legg Advisers LLC, a Boston wealth manager that specializes in tax-sensitive investment strategies for high-net-worth individuals and families.
The wealth manager now operates under the Wilmington Trust brand, and Peter E. Simmons, Bingham Legg's president and chief executive officer, is now the president of Wilmington Trust's wealth advisory services office in Boston.
Bingham Legg was established in 1999 in a joint venture between what is now Bingham McCutchen LLP, an international law firm, and Baltimore wealth manager Legg Mason Inc.
Bingham Legg had $1.5 billion in assets under management as of March 31.
The deal was announced May 7. The price was not disclosed.
