Wilmington Trust hired corporate trust professionals Douglas Lavelle and Thomas Mackay as part of the global expansion of its capital markets services business.
Lavelle and Mackay are based in New York and join Wilmington Trust from HSBC Bank USA.
Lavelle was a senior vice president and head of business development in HSBC’s corporate trust and loan agency group. He previously served sovereign and global corporate clients at The Bank of New York Mellon and JPMorgan Chase.
Mackay was a senior vice president and unit manager on HSBC’s global debt, agency, and bankruptcy team. Earlier, he spent 21 years servicing global corporate clients at JPMorgan Chase.
The trustee has steadily grown its corporate client services (CCS) business globally in recent years, specifically in Europe. The company now operates in several preferred jurisdictions for corporate business outside of the U.S., such as London, Dublin, Frankfurt, Luxembourg, and Amsterdam, as well in the Cayman Islands and the Channel Islands.
These markets extend CCS’ ability to provide its core services beyond domestic U.S. jurisdictions in Delaware, Michigan, Minnesota, Nevada, New York, South Carolina, and Vermont.
CCS’ core services include entity management services, which help clients establish legal standing by providing administrative services for holding companies and special purpose vehicles; capital markets services, such as trustee and administrative services for structured finance and other deals; trustee services for corporate retirement plans; and institutional investment management services.
The ongoing global expansion of its capital markets services is the latest in a series of growth initiatives within CCS. Since early 2008, CCS has made two acquisitions in its corporate retirement services business, added a team of specialists in distressed debt, loan administration, and bankruptcy services, and assumed responsibility for several corporate trustee services formerly performed by LaSalle Bank, a result of LaSalle’s merger with Bank of America.
"We have successfully grown our CCS business globally because of our focus on delivering superior service and execution,” said Jack Beeson, senior vice president and head of Corporate Capital Markets Services for CCS. "Doug and Tom are great additions to the CCS team. Their experience strengthens our ability to serve corporate clients in important global jurisdictions and will help continue our momentum.”
"Our strategy is to be the preferred choice for corporate executives and their advisors,” said Christophe Schroeder, executive managing director and head of CCS’ European business. "In Europe, we have been seeing steady interest in new securitizations and opportunities to provide loan agency and other services for distressed organizations and transactions.”