Wilmington Trust announced six hires Tuesday, expanding the trustee's public finance team.
The sector is a "small community" and a "relationship business," Wilmington's head of public finance, Michael Countryman, told The Bond Buyer. The hires "will help us further deepen our relationships," he said.
Wilmington's trustee services are used by private-activity borrowers in healthcare, education, multi-family housing and property-assessed clean energy, as well as municipalities and conduits, he said.
In addition to their understanding of "technical complexity" and "responsive service," Countryman said the new employees each brings regulatory compliance expertise, which has become increasingly important to Wilmington's public finance clients "as the landscape becomes more scrutinized."
The hirings are part of a broader push by Wilmington to bolster its presence in public finance, according to a company press release. Countryman said the firm has been "making strategic investments, not only in people, but in our processes and platforms."
Four of the hirees will join Wilmington's office in Costa Mesa, California.
Julia Hommel comes from US Bank, where she worked as a relationship manager for a portfolio of over 250 municipal trust accounts, according to the release. She joins Wilmington as vice president and relationship manager.
Adriana Marshall joins as a vice president and relationship manager, from Bank of New York, where she was a vice president and client services manager.
Hong Nguyen-Dao, who comes from US Bank Corporate Trust, was named a client administrator for public finance at Wilmington. Elijah DeSolace was hired as a client administrator.
Based in Minneapolis, Ben Saarion will handle "daily administration duties and operational/risk management" for Wilmington's clients, according to the release. He also comes from US Bank, where he worked on the municipal/public finance team.
In Dallas, Jason Stephens joined Wilmington as vice president and relationship manager. He has previously worked in public finance at BNY Mellon and Comerica.
Wilmington plans to continue expanding its public finance presence with more hires in Texas, Countryman said, calling the state a "strategic growth location."
