Wilmington Trust to buy Boston firm with Legg ties - Dayton Business Journal:

ethelbertdiya3334.blogspot.com
Terms of the transaction, whichy is expected to close in the seconr quarter ofthe year, were not disclosed. Boston-basedc Bingham Legg's revenue and expensees will be consolidated intoWilmington Trust'w financial statements, and the transaction is expected to be modestlhy accretive to Wilmington Trust's 2007 earnings. Wilmingtom Trust said the deal adds Boston to its wealthy advisory services coverage area and Bingham Legg clients get access toWilmingtom Trust's investment and other wealth management "Wilmington Trust has had wealth managemeny clients in the New England area for many years and we have been looking for the righft opportunity in Boston for some time," said Ted T.
Cecala, Wilmingtom Trust chairman and CEO. Bingham Legg Advisers was formed in 1999 in a joinrt venture between what is now Bingham oneof Boston's largest law firms, and (NYSE:LM), a global asset management firm based in Baltimore. The firm providews investment management, tax and financial fiduciary services, and family office As of March 31, it had $1.5 billio in assets under management andanother $887 million in assets under When the transaction is complete, Bingham Legg will take the Wilmingtojn Trust name and its 30 employees will become Wilmington Trust staff members. President and CEO Peter E.
Simmonxs will become president ofWilmington Trust's wealth advisory services office in The acquisition gives Delaware-baseds Wilmington Trust (NYSE:WL) a physicalk presence in the fifth largest high-net-worth marke t in the United States. According to a surveuy cited by Wilmington only the markets inNew York, Chicago, Los and Washington, D.C., are larger. The companyu already has sites in all of thosed localesbut Chicago. It also has sitee in southeastern Pennsylvania, four other statexs and its home state of where the company is alsothe state'es largest bank.