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Wilmington Trust To Acquire Bingham Legg

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A wealth advisory firm is reaching north into New England.

Wilmington Trust Corp., Wilmington, Del., has agreed to acquire Bingham Legg Advisers L.L.C., Boston, a wealth management firm that specializes in strategies that can help wealthy individuals and families cut their tax bills.

Bingham McCutchen L.L.P., Boston, and Legg Mason Inc., Baltimore, founded Bingham Leg in 1999 as a joint venture.

Bingham Legg now is a registered investment advisor with $1.5 billion in assets under management along with clients in Europe and Asia as well as in the United States.

Wilmington Trust hopes to complete the Bingham Legg deal by June 30, put its own name on Bingham Legg but keep Bingham Legg’s offices and its 30 employees.


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