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Westerly, RI– Washington Trust Bancorp, Inc. (NASDAQ: WASH) the publicly-owned holding company of The Washington Trust Company, today announced Ronald S. Ohsberg has been appointed Executive Vice President and Treasurer, and Mark K.W. Gim has been named Senior Executive Vice President, Wealth Management and Chief Strategy Officer.
Westerly, RI– Washington Trust Bancorp, Inc. (NASDAQ: WASH) the publicly-owned holding company of The Washington Trust Company, today announced Ronald S. Ohsberg has been appointed Executive Vice President and Treasurer, and Mark K.W. Gim has been named Senior Executive Vice President, Wealth Management and Chief Strategy Officer. In these new positions, Ohsberg and Gim will serve as executive officers of both the corporation and the Bank.
Ohsberg, a Cranston, R.I. resident, joins Washington Trust from Linear Settlement Services, where he served as Executive Vice President, Finance for the past year. Prior to Linear, Ohsberg was employed at Citizens Bank for 12 years, leaving in 2016 as Executive Vice President, Corporate Controller and Chief Accounting Officer. One of his key responsibilities at Citizens was the execution of key financial matters related to Citizens Financial Group (NYSE: CFG) becoming a publicly-traded company in September 2014. The transaction is regarded as the largest commercial bank initial public offering (IPO) in U.S. history. Ohsberg also spent 12 years at FleetBoston Financial/Bank of America where he served as Senior Vice President, Director of Accounting and Financial Analysis, and, prior to that, served as Audit Manager at KPMG Peat Marwick. A Certified Public Accountant (CPA), Ohsberg holds B.S. degrees in accounting and finance, and an M.B.A. from the University of Rhode Island. He has served as a member of the Board of Trustees and Treasurer of the Scandinavian Home Nursing and Retirement Center.
In his new position at Washington Trust, Ohsberg will be responsible for the Treasury area, with oversight of balance sheet management strategies, interest rate risk management, liquidity and corporate budgeting.
Gim, a Barrington, R.I. resident, has been with Washington Trust since 1993 and has headed up Washington Trust Wealth Management since 2013. Under his leadership, Washington Trust Wealth Management has increased assets under administration from $4.8 billion to a record $6.1 billion at year-end 2016. During this time, he oversaw the company’s acquisition and integration of Halsey Associates, Inc., a New Haven, Connecticut-based Registered Investment Advisor (RIA). He has added new talent, technology, and a more comprehensive breadth of wealth management service offerings to enhance the client experience and position Washington Trust Wealth Management as a best-in-class wealth management service provider.
A magna cum laude graduate of Brown University, Gim earned a master's degree from the London School of Economics in London, England. He serves as President of the Rhode Island Free Clinic and past President of the Community College of Rhode Island Charitable Foundation. He is a board member of the Trinity Repertory Company, the Rhode Island Philharmonic & Music School, Rhode Island Public Radio, Providence Athenaeum, and The Wolf School. He also serves as Lecturer on the faculty of the Morin Center for Banking at the Boston University School of Law.
“The expansion of our leadership team is critical to Washington Trust’s continued growth,” stated Joseph J. MarcAurele, Washington Trust Chairman and CEO. “We’re fortunate to have a local professional, with Ron’s credentials, join our executive team. His extensive corporate accounting and financial reporting experience will be critical in helping us manage the corporation in today’s heavily regulated environment. In recent years, Mark has played a significant role in growing our Wealth Management division, which is a key business line and revenue driver for us. He has provided tremendous insight into our corporate strategic planning process and we look forward to his continued contributions and guidance.”
ABOUT WASHINGTON TRUST BANCORP, INC. Washington Trust Bancorp, Inc. is the parent of The Washington Trust Company, with $4.4 billion in assets as of March 31, 2017. Founded in 1800, Washington Trust is the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Corporation’s common stock trades on NASDAQ under the symbol WASH. Investor information is available on the Corporation’s web site at www.washtrustbancorp.com.
Washington Trust is pleased to announce the expansion of its Wealth Management team in Rhode Island and Massachusetts, with Kimberly McCarthy, Esq., Howard Cowan, CFP®, Daniel LeBeau, Eileen Straughn, and Suzanne Vargas, CTFA, joining the Rhode Island offices of Washington Trust Wealth Management and Nicholas Rossi, APMA®, CRPC®, joining the Wellesley, MA office of Washington Trust Wealth Management through Weston Financial Group.
Westerly, RI – The Board of Directors of Washington Trust Bancorp, Inc., (NASDAQ: WASH), today announced Joseph J. MarcAurele will retire as Chairman and Chief Executive Officer effective March 2, 2018. MarcAurele will continue to serve as a member of Washington Trust’s Board of Directors. The Board also announced that David V. Devault, Vice Chair, Secretary and Chief Financial Officer, will retire effective January 31, 2018. The Board’s long-range leadership succession plan also includes the following executive appointments:
Today’s announcement reflects the culmination of a multi-year succession planning process.
“Washington Trust is a one-of-a-kind institution and I am truly honored to have led our 217+ year old company during a period of tremendous growth and profitability,” stated MarcAurele. “During my tenure I have been fortunate to work alongside a supportive Board of Directors, a talented management team and a dedicated group of employees. I would like to thank David Devault for his numerous contributions and unwavering commitment during his 30+ years of service with our company. I have worked closely with Ned for many years and am confident that he, Mark and Ron will uphold our company’s core values and lead Washington Trust to continued success in the years to come.”
“It has been an honor to have served Washington Trust for almost 31 years. Throughout my career, I have been fortunate to work with an outstanding group of banking professionals, and I am extremely proud of what we have accomplished together,” said Devault. “The company has always maintained a strong commitment to serve our customers, communities, shareholders and employees. I am confident that the new leadership team will position Washington Trust for continued success as a high-performing bank.”
“Washington Trust’s Board is extremely grateful for the contributions Joe and David have made to our company and the community,” stated Victor J. Orsinger, II, Lead Director of Washington Trust’s Board of Directors. “Joe’s strategic vision enabled Washington Trust to successfully expand our market presence and earn recognition as one of the nation’s most high-performing banks. David has been an integral part of Washington Trust’s success during his career, providing astute financial insight and guidance with the utmost integrity. We look forward to Joe’s continued contributions to our Board and wish both men well as they plan their retirements next year.”
ABOUT WASHINGTON TRUSTBANCORP, INC. Washington Trust Bancorp, Inc. is the parent of The Washington Trust Company, with $4.4 billion in assets as of June 30, 2017. Founded in 1800, Washington Trust is the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Corporation’s common stock trades on NASDAQ under the symbol WASH. Investor information is available on the Corporation’s web site at www.washtrustbancorp.com.
Forward-Looking Statements This press release contains statements that are “forward-looking statements.” We may also make forward-looking statements in other documents we file with the SEC, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward-looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters. You should not rely on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of Washington Trust. These risks, uncertainties and other factors may cause the actual results, performance or achievements of Washington Trust to be materially different from the anticipated future results, performance or achievements expressed or implied by the forward-looking statements. We assume no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.
Westerly, RI – Washington Trust Bancorp, Inc., (NASDAQ: WASH) has completed its previously announced executive leadership transition. Effective immediately, Edward O. Handy, III has assumed the role of Chairman and Chief Executive Officer of the Corporation and the Bank, and Mark K.W. Gim has assumed the role of President and Chief Operating Officer. Their appointments follow the March 2nd retirement of Joseph J. MarcAurele as Chairman and Chief Executive Officer.
Handy served as President and Chief Operating Officer of Washington Trust since November of 2013. In his new role, he leads a team of more than 600 employees dedicated to providing a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through Washington Trust offices located throughout Rhode Island, Connecticut and Massachusetts.
“Washington Trust has a long, proud history as America’s oldest community bank and has attained an outstanding track record of success over the past two centuries,” Handy stated. “I am honored to assume the role of CEO of this remarkable organization and look forward to leading Washington Trust into the next chapter.”
Gim joined Washington Trust in September of 1993 and most recently served as Senior Executive Vice President of Wealth Management and Chief Strategy Officer. Through his leadership of Washington Trust Wealth Management, from 2013 to 2017, wealth management assets under administration grew from $4.8 to $6.7 billion. In his new role, Gim is responsible for corporate strategic planning and daily operations of the Company’s key business lines, including Retail Banking, Mortgage and Consumer Lending, and Wealth Management.
Gim noted, “Washington Trust’s continued success is attributable to our commitment to our employees, our customers, our shareholders, and the communities we serve. My goal is to ensure that we continue to meet the needs of our key constituents by providing the highest value of financial products and customer services.”
ABOUT WASHINGTON TRUST BANCORP, INC. Washington Trust Bancorp, Inc. is the parent of The Washington Trust Company, with $4.5 billion in assets as of December 31, 2017. Founded in 1800, Washington Trust is the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Corporation’s common stock trades on NASDAQ under the symbol WASH. Investor information is available on the Corporation’s web site at www.washtrustbancorp.com.
Westerly, RI - Washington Trust today announced the opening of its new mortgage production office located at 62 Walnut Street, 3rd Floor, in Wellesley, Massachusetts. The office is managed by Washington Trust Mortgage Company Vice President and Regional Manager Sherry Fonseca, who has more than twenty years of mortgage origination and management experience throughout Massachusetts. The Wellesley mortgage team also includes two experienced loan officers: Sean Fleming and David Martinelli.
“We’re excited to open our fourth mortgage office in Massachusetts,” said Joseph J. MarcAurele, Washington Trust Chairman and Chief Executive Officer. "We take great pride in working with homeowners and businesses throughout New England and look forward to serving the Greater Boston region through our new Wellesley mortgage office.”
Washington Trust also has mortgage offices in Braintree, Burlington and Sharon, MA, as well as in Rhode Island and Connecticut. In addition to the new mortgage location, Washington Trust also maintains an office for Washington Trust Wealth Management subsidiary, Weston Financial in Wellesley, MA.
Washington Trust Mortgage Company LLC offers a full-range of mortgage solutions, including fixed rate, adjustable rate, first time homebuyer, construction and reverse mortgages, as well as home equity loans and lines of credit. Its team of experienced mortgage professionals is dedicated to helping borrowers through all stages of life by providing customized, comprehensive financing and personalized services. Washington Trust Mortgage Company LLC is a subsidiary of The Washington Trust Company.
ABOUT WASHINGTON TRUST® Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ OMX®: WASH). Additional information on Washington Trust and its subsidiaries can be found at www.washtrust.com.
Westerly, RI - Washington Trust chairman and CEO Joseph MarcAurele, Washington Trust president and COO Edward Handy and Washington Trust senior vice president Dennis Algiere presented a $100,000 check to Amy Grzybowski, executive director of the Westerly Education Center, and Neil Steinberg, president and CEO of the Rhode Island Foundation, on behalf of the Washington Trust Charitable Foundation. The donation represents a multi-year commitment to support the Westerly Higher Education and Job Skills Center, which opened in January 2017.
"Because of Washington Trust's support of the Center, thousands of women and men in need of workforce and skills training will know a better future for themselves and their families as a result of the access to quality education provided to them," said Grzybowski. "We are truly grateful for the investment Washington Trust has made in their futures and ours."
“Washington Trust’s very generous commitment to the Center will support the growth of this important educational and skills training facility initiated by the Royce family,” said Steinberg. “Students are already attending the classes and training that will create the workforce necessary for manufacturers like Electric Boat to expand and thrive.” The Rhode Island Foundation accepted the donation on behalf of the charity that was created to support the project.
The Center is an innovative facility designed to bring together higher education, business, industry, and community partners to serve the workforce and community needs of southwestern Rhode Island and the State. The 34,500-square-foot facility will be the base for providing high-quality educational programs in key sectors to meet projected workforce growth in the region. The anchor tenant is the Community College of Rhode Island in partnership with General Dynamics Electric Boat.
The Washington Trust Charitable Foundation provides charitable grants to 501(c)3 organizations whose work benefits the communities served by the bank.
ABOUT WASHINGTON TRUST® Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.
PHOTO CAPTION (from left to right): Amy Grzybowski, executive director, Westerly Education Center, Edward Handy, Washington Trust president and COO, Joseph MarcAurele, Washington Trust chairman and CEO, Neil Steinberg, president and CEO of the Rhode Island Foundation and Dennis Algiere, Washington Trust senior vice president at the Westerly Higher Education and Job Skills Center.
Westerly, RI – Washington Trust Bancorp, Inc., (NASDAQ: WASH) today announced that Ronald S. Ohsberg has assumed the role of Chief Financial Officer of the Corporation and the Bank, effective immediately with the previously announced retirement of David V. Devault, who served as Washington Trust’s Vice Chair, Secretary and Chief Financial Officer. As Washington Trust’s Senior Executive Vice President, Chief Financial Officer, and Treasurer, Mr. Ohsberg is responsible for the Bank's financial planning, accounting, financial reporting, asset and liability management and budgeting.
In addition, it was announced that Kristen L. DiSanto, Senior Executive Vice President, Chief Human Resources Officer for the Bank, will serve as Corporate Secretary for the Corporation.
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