Wilmington Trust Completes Acquisition of UBS Fiduciary Trust Company

Wilmington Trust Corporation said it completed the acquisition of UBS Fiduciary Trust Company (UBSFTC).

UBSFTC provides trust and investment management services to retirement plans through financial advisers, from financial services company UBS Americas Inc. Effective today, New Jersey-based UBSFTC operates as Wilmington Trust Fiduciary Services Company, which is part of Wilmington Trust’s Corporate Client Services (CCS) business, according to a press release.

This is the second acquisition Wilmington Trust has made this year in CCS’ retirement and institutional services business. In April, the company acquired Arizona-based AST Capital Trust Company (AST), which Wilmington said doubled the capacity of its retirement business (see Wilmington Trust Expands with Acquisition of AST Capital Trust).

As a result of both acquisitions, Wilmington Trust provides directed trustee, custodial, trading, and paying agent services to more than 3,800 retirement and employee benefit plans with more than $47 billion in assets under administration, according to the release.