Wilmington Trust Corp. has launched a subsidiary in Amsterdam Monday to expand its corporate product and service offerings in Europe.
The Delaware company announced that it has opened Wilmington Trust SP Services BV, a division of the parent's corporate client services unit.
It will perform specialized trustee and corporate administrative services in the Netherlands, which is one of Europe's premier legal and tax jurisdictions for corporate business, including collateralized debt obligation transactions, asset-backed securitizations, and holding company services.
Wilmington Trust's services in the Netherlands will be provided through an alliance that it has established with ANT-Trust, an independent Amsterdam supplier of corporate trust and administrative services.
"For the last several years, we have been growing our corporate client services business in Europe," Ted T. Cecala, Wilmington Trust's chairman and chief executive officer, said in a press release Monday. "Establishing capabilities in the Netherlands is the next logical step in that strategy."
Wilmington Trust began its expansion of corporate client services in Europe six years ago when it bought a London company that provides entity management services.
More recently, Wilmington Trust has established corporate client services offices in Dublin, Ireland, Frankfurt, Germany, and Luxembourg.
The company also offers corporate client services in the United States and the Caribbean.
"Wilmington Trust SP Services (Amsterdam) BV extends our reach to another important financial center in Europe," Christophe Schroeder, the managing director and head of Wilmington Trust's corporate client services business in Europe, said in a press release. "Adding capabilities in the Netherlands has been one of our priorities and makes our service offering throughout Europe even stronger."
ANT-Trust offers services for many types of corporate clients, including holding companies and financing, license and royalty, and real estate investment companies. In addition to its office in Amsterdam, it has branches in Aruba, Belgium, Curacao, Luxembourg, and the British Virgin Islands.
Wilmington Trust's corporate client services business, which serves institutional clients in 86 countries, supplies institutional trustee, agency, administrative, and investment management services.
The Delaware company has been expanding internationally in some of its other businesses as well. Its wealth advisory services business sells products and services to high-net-worth people in 36 counties.
Wilmington Trust has U.S. offices in Arizona, California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, and Vermont.
