Wilmington Trust, M&T Bank’s wealth management division, has named Lisa Roberts as its new head of wealth management.
Roberts has been with the firm since 2023 and previously was a senior executive vice president and M&T’s head of U.S. markets. She succeeds Doris Meister, who 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 “exceptionally strong position” to grow its business based on its “high-touch client experiences” and staff.
Wilmington Trust wealth advisors work with high- and ultra-high-net-worth individuals, families, entrepreneurs, business owners, foundations and endowments, offering trust, wealth 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 assets totaled $79 billion as of earlier this year.
Roberts first joined the industry with Wells Fargo Private Bank in 2000, with additional stints 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, becoming the head of community banking and private wealth management before joining Wilmington Trust last year.
The Wilmington wealth unit began as a family office of sorts for the DuPont family before being acquired in 2011 by M&T Bank, which was looking to boost its wealth 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 the private equity firm Madison Dearborn Partners.
