Donald E. Foley was named CEO of Wilmington Trust, confirmed spokesman Bill Benintende.
He replaces Ted. T. Cecala, who is retiring as CEO and chairman.
According to a news release, Mr. Cecala will remain chairman until July 19, when Wilmington's board will elect a new chairman.
Mr. Foley was senior vice president and treasurer at ITT Corp., White Plains, N.Y., overseeing investment strategy for that firm's $6 billion in retirement assets. He has been on Wilmington's board of directors since July 2006.
ITT spokeswoman Jennifer Schiavone said a search is under way to replace Mr. Foley. Denise Ramos, a senior vice president as well as ITT's chief financial officer, will handle the treasurer's duties on an interim basis, she said.