Printer Friendly

WILMINGTON TRUST COMPLETES ACQUISITION OF BANK OF DELAWARE'S PRECIOUS METALS DEPOSITORY BUSINESS

 WILMINGTON TRUST COMPLETES ACQUISITION OF BANK OF
 DELAWARE'S PRECIOUS METALS DEPOSITORY BUSINESS
 WILMINGTON, Del., Feb. 3 /PRNewswire/ -- Wilmington Trust Company announced that the acquisition of Bank of Delaware's precious metals depository business was completed at the close of business on Friday, Jan. 31, 1992.
 The acquisition, which was agreed to in October 1991, involves the transfer of Bank of Delaware's wholesale and retail precious metals storage accounts, which includes custody of gold, silver, platinum and palladium.
 This acquisition more than doubles Wilmington Trust's depository business and firmly establishes Wilmington Trust as one of the largest precious metals depositories in the country. Wilmington Trust has provided safekeeping of precious metals since 1975 and established its precious metals banking and sales operation in 1984. In 1987, Wilmington Trust was named by the New York Mercantile Exchange as its first depository approved for precious metals storage outside New York City. In 1990, Wilmington Trust acquired Citibank's nationwide retail precious metals sales program.
 Wilmington Trust's precious metals business is managed by Michael B. Clark, vice president. Clark has been involved in the precious metals industry since 1979 and, until recently, served as the chairman of the Industry Council for Tangible Assets (ICTA), a trade association headquartered in Washington, D.C. He is also a member of the Metals Advisory Committee of the New York Mercantile Exchange.
 Wilmington Trust Company is the principal subsidiary of Wilmington Trust Corporation (NASDAQ: WILM) and is a Delaware-chartered bank. Wilmington Trust Company is one of the largest trust companies in the nation, with more than $250 billion in assets under trust, custodial and investment management.
 /delval/
 -0- 2/3/92
 /CONTACT: Charles W. King of Wilmington Trust, 302-651-8069/
 (WILM) CO: Wilmington Trust Company; Bank of Delaware; Wilmington Trust
 Corporation ST: Delaware IN: FIN SU: TNM


CC -- PH029 -- 6252 02/03/92 14:20 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 3, 1992
Words:305
Previous Article:RAYTHEON, GENERAL ELECTRIC TEAM AWARDED NAVY CONTRACT
Next Article:BURIED IN BUSH BUDGET PROPOSAL: PROVISION TO UNDERMINE ARAB BOYCOTT LAW
Topics:


Related Articles
WILMINGTON TRUST ANNOUNCES FDIC APPROVAL OF MERGER WITH THE SUSSEX TRUST COMPANY
WILMINGTON TRUST ANNOUNCES FDIC APPROVAL OF MERGER WITH THE SUSSEX TRUST COMPANY
WILMINGTON TRUST TO ACQUIRE FREEDOM VALLEY BANK
WILMINGTON TRUST ACQUISITION OF FREEDOM VALLEY BANK COMPLETED
FIRST FIDELITY COMPLETES ACQUISITION OF FIRST STATE, WILMINGTON
WILMINGTON TRUST APPROVED BY THE NEW YORK MERCANTILE EXCHANGE FOR SILVER STORAGE
WILMINGTON TRUST NAMES NEW SENIOR VICE PRESIDENT
Wilmington Trust Lists on New York Stock Exchange.
Fulton Financial Corporation Completes Acquisition of 18 Sovereign Bank Branches.
WSFS Helps Keep Boscov's a Family-Operated Business.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters