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Czarnecki Puts Wilmington At The Heart Of M&T's Proposition
Harriet Davies
6 March 2012
In the prevailing low-interest rate environment, investment businesses, such as trust and retail brokerage, “add tremendous value to banks,” Mark Czarnecki, president of M&T Bank, which owns Wilmington Trust, said at a recent conference. Czarnecki laid out a vision that, following last year's completed acquisition of Delaware-based Wilmington Trust, M&T Bank has an opportunity to “develop the wealth will be as challenging as the last five," he said, with proposed regulations, if enacted, putting a further dampener on lending. Despite this, he predicted that all of the top 20 US banks will be profitable in 2012.