Wilmington Trust, the wealth management division of M&T Bank, has named Lisa Roberts as its new head of wealth management.
Roberts has been with the firm since 2023 and was previously senior executive vice president and head of M&T's US markets. She succeeds Doris Meisterwho led the wealth division for eight years before stepping down in May. (She remains a consultant with the company.)
Additionally, Roberts will join M&T Bank's enterprise leadership team, which helps set the overall direction of the parent company's business. Roberts said Wilmington's wealth division was in an “extremely strong position” to grow its business based on “high-touch customer experiences” and staff.
Wilmington Trust's wealth advisors work with high and ultra-high net worth individuals, families, entrepreneurs, business owners, foundations and foundations, providing trust, estate planning, asset management, private banking and family office services.
The firm also provides investment management services and works with corporate and institutional clients. It has offices nationwide and in London, Dublin and Frankfurt. Wilmington Trust's assets reached $79 billion earlier this year.
Roberts first joined the industry with Wells Fargo Private Bank in 2000, with additional positions at Bank of America, Citi Private Bank and Freestone Capital Management before joining Union Bank in 2016. She stayed at Union Bank for seven years, became head of community banking and private wealth management before joining Wilmington Trust last year.
The Wilmington property unit began as a sort of family office for the DuPont family before it was acquired in 2011 by M&T Bank, which was looking to grow its property business at the time.
The firm eventually grew to about $190 billion in assets before shrinking with the 2023 sale of its Collective Investment Trust last year to private equity firm Madison Dearborn Partners.