Wilmington Trust has hired F. Mackey Hughes to fill the newly created role of managing director of endowments and foundations for the Wealth Advisory Services (WAS) business, the firm announced Tuesday.
Based in Wilmington Trust FSB’s Baltimore office, Hughes will lead business strategy and market development with endowments, foundations and other nonprofit organizations and present the full scope of WAS’s investment, fiduciary and custody capabilities.
“Effectively managing an endowment or foundation in the 21st century requires deep investment expertise and extensive fiduciary and custody experience,” Mark Graham, executive vice president and head of WAS, said in the statement. “In Mackey, we have added a well-respected veteran whose skills, experience, and consultative approach will help our clients meet their broad responsibilities.”
Wilmington Trust has served endowments and foundations historically. Now, with the hiring of Hughes, it has advanced a WAS business strategy dedicated to providing these institutions with access to additional investment and fiduciary resources, the statement said. Other recent moves in this area involved hiring teams specialized in serving endowments and foundations in Wilmington Trust FSB’s New Yorkand Boston offices.
Hughes joins Wilmington Trust from Camden Partners LLC, a Baltimore-based private equity firm in which Wilmington Trust owns a minority stake. At Camden, he served as business development partner responsible for delivering diversified, private equity fund-of-funds portfolios to clients. Before that, he held senior positions over a 19-year period with Deutsche Bank Alex. Brown, including head of sales management and business development, managing director of sales in the Baltimore and Los Angeles offices and managing director of the real estate group.
Wilmington Trust’s Wealth Advisory Services business offers clients asset management, personal trust, wealth planning, fiduciary and family office services. The business maintains 20 offices in key high-net-worth markets throughout the U.S.
Wilmington Trust Corporation is a financial services holding company that provides regional banking services throughout the mid-Atlantic region, wealth advisory services for high-net-worth clients in 33 countries and corporate client services for institutional clients in 90 countries.