WSFS Financial, a multi-billion dollar financial services company, has created a new trust company, Christiana Trust Company of Delaware.
The newly formed entity is a Delaware limited purpose trust company that will offer Delaware Advantage trust services including directed trusts, asset protection trusts and dynasty trusts.
The new company will be a wholly-owned subsidiary of WSFS Financial.
WSFS Financial said that the new entity will supplement the existing WSFS Wealth businesses, including; WSFS Wealth Investments, Cypress Capital Management, West Capital Management, Powdermill Financial Solutions and Christiana Trust, which is a division of WSFS Bank.
Louis Geibel, chief trust officer of Christiana Trust, will serve as president of the new trust company.
Geibel said: “We are excited to have a Delaware-chartered trust company, which will put us in a better position to compete in the Delaware Advantage marketplace and to greater serve our clients and referral sources.”