WSFS Institutional Services Continues to Grow in the Securitization Industry
WILMINGTON, Del., Jan. 20, 2022 (GLOBE NEWSWIRE) -- WSFS Institutional Services®, a division of WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), climbed in the ranking from sixth to the fourth-most appointed trustee for U.S. Asset and Mortgage-Backed Securities in 2021, according to Asset-Backed Alert’s ABS Database. The data showed that WSFS Institutional Services increased its market share to 10.3 percent from 6.3 percent, a 64% increase in market share percentage.
“We are thrilled to have increased our issuance volume by 156% over prior year. Our ability to continue to expand is a true testament to the amazing group of talented professionals on the team,” said Sandy Whalen, Senior Vice President and Head of Corporate Trust, WSFS Institutional Services. “Being responsive and nimble sets us apart as do our customized solutions, technology, and team of experts.”
WSFS Institutional Services will continue to invest in leading technology such as eVault, a verification and loan data reporting platform that provides organizations with a range of document management solutions. WSFS Institutional Services offers owner, indenture trustee and paying agent services for asset-backed securities, indenture trustee for corporate debt issuances, custody, escrow, verification agent and independent director services, as well as administrative and collateral agent services for the leveraged loan market. To learn more about WSFS Institutional Services, visit wsfsinstitutionalservices.com.
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally-managed bank and trust company headquartered in Delaware and the Greater Philadelphia region. As of September 30, 2021, WSFS Financial Corporation had $15.4 billion in assets on its balance sheet and $27.6 billion in assets under management and administration. WSFS operates from 112 offices, 89 of which are banking offices, located in Pennsylvania (52), Delaware (42), New Jersey (16), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Cash Connect®, Cypress Capital Management, LLC, Christiana Trust Company of Delaware®, NewLane Finance®, Powdermill® Financial Solutions, West Capital Management®, WSFS Institutional Services®, WSFS Mortgage®, and WSFS Wealth® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.