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M&T's merger expenses fell 84% in the first quarter from the prior quarter, and the old Wilmington Trust operations contributed to a 3% gain in trust income.
April 16
M&T Bank's Wilmington Trust unit has hired four seasoned executives away from Wells Fargo Private Bank to help it grow its wealth management business in the Washington, D.C., and Richmond, Va., markets.
Wilmington Trust said Wednesday that the new D.C.-area team would be headed by William T. LaFond, a managing director at the firm who will relocate from Wilmington, Del.
M&T (MTB), of Buffalo, acquired Wilmington Trust for $350 million last year in a deal that has significantly bolstered M&T's capabilities in wealth and asset management. The new team has set up shop in an M&T branch in downtown Washington.
The new hires are Al Behar, Bruce Hoffmeister, Eric Schoener and Jast Sohi and all will join Wilmington Trust as vice presidents. Behar, Hoffmeister and Sohi all have at least 25 years of experience in financial planning and wealth management and Schoener has 18 years of experience.
LaFond has been with Wilmington Trust since 2004 and prior to that was a vice president and financial planner at U.S. Trust Company.
