Wilmington Trust, N.A. has announced the hiring of Michael Ramsey to the role of client development officer in its Insurance Collateral Solutions team, the area of the business focused on collateral solutions for insurance-linked securities (ILS) including catastrophe bonds and other reinsurance transactions.
In the new role within the Insurance Collateral Solutions team at Wilmington Trust, which is part of the company’s Global Capital Markets division, Ramsey will be tasked with developing the corporate large deductible trust business domestically, as well as the corporate captive trust business globally. He will be based in New York for the firm.
He will also assist on the Wilmington Trust the reinsurance, retrocession, catastrophe bond, and insurance linked securities businesses.
“Having worked with Mike for years at a prior trustee, I am supremely confident in both his knowledge of the industry and ability to create value for his clients,” commented Robert Quinn, head of client development for the Insurance Collateral Solutions team at Wilmington Trust.
“He is a welcome addition to our team,” added Todd Winchel, product leader for Wilmington Trust’s Insurance Collateral Solutions team. “Mike is one of the rare insurance trust professionals that understand both the trust concept, as well as the nature of the business driving the need for collateral. He understands all of the moving parts.”
Ramsey has more than 25 years of experience in sales and business development, 11 years of which saw him overseeing sales of insurance trust product.
Before joining Wilmington Trust, Ramsey worked in business development for Wells Fargo’s Collateral Trust Division, which sold insurance trust product across the U.S., Europe, Bermuda, the Caribbean, and the Pacific Rim.
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