
"We are pleased to welcome Galan to our team," stated John C. Warren, Washington Trust Chairman and Chief Executive Officer. Adding, "He brings tremendous experience and knowledge of the industry and we look forward to growing our Wealth Management business under his leadership."
Daukas comes to Washington Trust from The Managers Funds, LLC where
he served as Chief Operating Officer of the Norwalk, CT-based firm.
During his tenure with The Managers Funds, the firm grew from $2.7
to $8.5 billion in assets under management. Prior to that, Daukas
served as Chief Operating Officer and Chairman of the Management
Committee of Harbor Capital Management Company in Boston, MA. He
also held various positions at Fleet Investment Advisors in Boston,
MA from 1992-2000, including serving as Chief Operating Officer
during a period in which assets under management grew from $25 billion
to more than $100 billion. Daukas has earned professional designations
as a Chartered Financial Analyst (CFA) and a Certified Financial
Planner (CFP). He received his MA in Economics/Finance from Trinity
College and a BA from Dartmouth College.
Daukas joins Washington Trust at a key point of the Bank's expansion in the wealth management area. As previously reported on March 21, 2005, Washington Trust announced the signing of a definitive agreement to acquire Weston Financial Group, a registered investment advisor located in Wellesley, Massachusetts with assets under management in excess of $1.2 billion. The acquisition, which is subject to state and federal regulatory approval, will most likely be completed in the third quarter of 2005. Once the Weston acquisition is complete, Washington Trust's Wealth Management area will have more than $3.0 billion in assets under administration.
Washington Trust Bancorp, Inc. is the parent of The Washington
Trust Company, a Rhode Island state-chartered bank founded in 1800.
The Bank offers personal banking, business banking and wealth management
services through its offices in Rhode Island and southeastern Connecticut.
Washington Trust Bancorp, Inc.'s common stock trades on The Nasdaq
Stock Market® under the symbol WASH. Investor information is
available on the Corporation's web site: www.washtrust.com.