Wilmington Trust Corp. has completed an all-cash acquisition of UBS Fiduciary Trust Co. (UBSFTC) from UBS Americas Inc. UBSFTC provides trust and investment management services to retirement plans through financial advisors.

Full terms of the transaction, which will be nondilutive to earnings in 2008, were not disclosed. On an annualized basis, the transaction is expected to add $38 million of revenue and $36 million of expense. It will also add six full-time positions to Wilmington Trust's staff.

Effective today, New Jersey-based UBSFTC operates as Wilmington Trust Fiduciary Services Co., which is part of Wilmington Trust's Corporate Client Services (CCS) business.

This is the second acquisition Wilmington Trust has made this year in CCS' retirement and institutional services business. In April, the company acquired Arizona-based AST Capital Trust Co. (AST), doubling the capacity of its retirement business. As a result of both acquisitions, Wilmington Trust now provides directed trustee, custodial, trading and paying agent services to more than 3,800 retirement and employee benefit plans with more than $47 billion in assets under administration.

The UBS transaction extends a business alliance established in 2007 through which AST, now known as Wilmington Trust Retirement and Institutional Services Co., handled UBSFTC's operations.

Now, Wilmington Trust Fiduciary Services Co. will continue those duties, providing fund accounting and benefit payment services, without disruption, to clients of the former UBSFTC. Gregory W. Tschider, president of Wilmington Trust's Retirement and Institutional Services Co., will also serve as president of Wilmington Trust Fiduciary Services Co.

Wilmington Trust CCS's division also has undertaken a third expansion effort this year: Since July CCS has added 14 capital markets experts who specialize in working with distressed debt, corporate restructurings and bankruptcies, loan administration, high-yield debt issuance, and other capital markets transactions.

The financial services holding company Wilmington Trust Corp. provides regional banking services in the Mid-Atlantic, wealth advisory services for high-net-worth clients in 36 countries, and corporate client services for institutional clients in 86 countries.