How to parse field to extract email address and display mailto link

I am working in my record type display interface. 

One of the fields in our data contains an email address with the name of the person in this format:

Bilbo Baggins <Bilbo.Baggins@TheShire.org>

I need to extract the string between the < > and display that string as a mailto link in my results. 

How do I write this, or if it's not possible to write this, how can this be achieved based on the data as it is?

Many thanks in advance - 

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