Wilmington Trust names new chief risk officer

Wilmington Trust Corp. confirmed today that it has hired Carol Baldwin Moody, the former chief compliance officer at Nationwide Mutual Insurance Co., as its new chief risk officer.
OCT 25, 2010
Wilmington Trust Corp. confirmed today that it has hired Carol Baldwin Moody, the former chief compliance officer at Nationwide Mutual Insurance Co., as its new chief risk officer. She will head a new, centralized enterprise risk management division, reporting to Donald Foley, Wilmington's chairman and chief executive. Before joining Nationwide, Ms. Baldwin Moody was chief compliance officer at TIAA-CREF and headed compliance and legal divisions at Citigroup Inc. Up until earlier this month, she was on the board at Carver Bancorp Inc., which comprises the largest African-American-operated bank in the United States, Carver Federal Savings Bank. Ms. Baldwin Moody this year was named to Black Enterprise magazine's “Who's Who List of Most Powerful Business Women.” Today's announcement confirms a few weeks of speculation about her new role, since Carver issued a press release Aug. 12 stating that Ms. Baldwin Moody had to resign from its board due to a conflict of interest from a new position at Wilmington. Since the housing bust, Wilmington has been focused on improving its risk management processes. The firm's regional banking arm has been hurt by commercial real estate loans that have gone sour, especially in the southern Delaware region. The firm this month also hired a new head for its credit risk unit, Robert Gehring.

Latest News

No succession plan? No worries. Just practice in place
No succession plan? No worries. Just practice in place

While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.

Research highlights growing need for personalized retirement solutions as investors age
Research highlights growing need for personalized retirement solutions as investors age

New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.

Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones
Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones

With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.

Insured Retirement Institute urges Labor Department to retain annuity safe harbor
Insured Retirement Institute urges Labor Department to retain annuity safe harbor

A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.

LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors
LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors

"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.