Trust co. wants to increase presence in lucrative California markets. Wilmington Trust has named former U.S. Trust executive Gregory Sanford to the position of president, Wilmington Trust FSB California. That makes Sandford head of Wilmington’s wealth management business in the Western U.S., a role comparable to the one he played as CEO of U.S. Trust’s western region. Wilmington says the appointment is a part of its efforts to deepen its footprint in the Golden State.

“Greg is a seasoned industry veteran and will be an excellent leader for the western region,” says Peter Atwater, head of relationship management for Wilmington’s national wealth advisory. “He will help us build on our successes to date, ramp up our visibility, and capture the great growth opportunities that stem from the outstanding quality and breadth of the wealth advisory services we provide.”

Reporting to Atwater, Sanford will be responsible for developing and delivering advisory services for high-net-worth clients and foundations in the West.

Help wanted

Rodney Wood, head of the Wilmington’s Wealth Advisory business, calls Sanford’s appointment “the latest strategic move Wilmington Trust has made in recent months to grow in southern California.” Last year the Wilmington, Del.-based trust-service provider paid an undisclosed price for a 90% stake in Beverly Hills, Calif.-based multi-family office and business management boutique Grant Tani Barash & Altman.

At the time, observers said the Grant Tani acquisition stood to increase Wilmington’s profile among the ultra-affluent in southern California. But some added that Wilmington would have to figure out how to get Grant Tani’s highly personal approach to client service on a national platform in order to get the most for its money.

During his eight years as head of U.S. Trust’s western region, Sanford “grew the company's assets under management, number of employees, and number of offices in the region,” according to a Wilmington press release. Before that, he headed Security Pacific Bank’s investment management, trust, and private banking businesses in the West.

Wilmington, the fifteenth-largest personal trust service provider in the U.S., managed $36.5 billion in client assets at the end of March 2005. It has offices in California, Delaware, Florida, Georgia, Maryland, Nevada, New York, Pennsylvania, the Cayman Islands, the Channel Islands, London, and Dublin. –FWR