RI's Largest Bank Announces Key Executive Changes
WESTERLY, R.I.--(BUSINESS WIRE)--
The Board of Directors of Washington
Trust Bancorp, Inc., (NASDAQ Global Select®; symbol:
WASH), the publicly-owned holding company of The
Washington Trust Company, today announced key executive changes with
the appointment of Edward “Ned” O. Handy, III as President and Chief
Operating Officer and David V. Devault as Vice Chairman, Secretary and
Chief Financial Officer. Joseph J. MarcAurele will continue to serve as
the Corporation’s Chairman and Chief Executive Officer.
Handy joins Washington Trust from Citizens Bank, where he served as
President, Citizens Bank, Rhode Island since 2009 and President Citizens
Bank, Connecticut, since 2010, both divisions of RBS Citizens, N.A. He
will assume his new position in late November 2013.
"Ned is well known within the industry and brings a wealth of regional
banking experience to Washington Trust," stated Joseph J. MarcAurele,
Washington Trust Chairman, President, and CEO. Adding, "As a Rhode
Island native, Ned is an active community leader and is dedicated to the
same principles that have made Washington Trust one of the premier banks
in the nation for more than 213 years."
Handy began his banking career as a commercial banker with Fleet
National Bank. Over the past 27 years, he has held various positions of
increasing authority including serving as President and CEO of Citizens
subsidiary Charter One Bank of Ohio and as head of Citizens national
commercial real estate finance division. Additionally, he served as a
member of Citizens’ Executive Leadership Group.
A Brown University graduate, Handy serves on numerous Rhode Island
boards including Rhode Island Foundation, Crossroads Rhode Island, Delta
Dental of Rhode Island, Rhode Island Hospital Foundation, Providence
Foundation, Greater Providence Chamber of Commerce, and Downtown
Providence Parks Conservancy. He also serves as a member of the
Providence College Presidents Council, Salve Regina University
Presidents Council, and the Rhode Island Commodores. Handy and his
family are residents of East Greenwich, RI.
In addition to Handy’s appointment, the Corporation announced that David
V. Devault of Westerly, RI, has been promoted to Vice Chairman,
Secretary and Chief Financial Officer. MarcAurele stated “David has been
instrumental in the Corporation’s successful growth during his 27-year
tenure, and will continue to be a valuable part of our leadership team.”
Devault oversees the Corporation’s financial affairs, governance
matters, and investment community relations. He is also responsible for
managing various operational areas within the organization.
A University of Massachusetts graduate, Devault served with the public
accounting firm of KPMG in Providence from 1976 to 1986 when he joined
Washington Trust. Over the years, he has held various leadership
positions, most recently serving as Senior Executive Vice President,
Secretary and Chief Financial Officer. Devault currently serves as a
director of the Ocean Community YMCA. He previously served as Chair of
the Rhode Island State Alliance of YMCA's, Chairperson of the Providence
Chapter of Financial Executives International, and Chairperson and Chief
Volunteer Officer of the Westerly-Pawcatuck YMCA.
Washington Trust Bancorp, Inc. is the parent of The Washington Trust
Company, a state-chartered bank headquartered in Westerly, Rhode Island.
Founded in 1800, Washington Trust
is the oldest community bank in the nation and is the largest
independent bank headquartered in Rhode Island. Washington Trust offers
a full range of financial services, including commercial
business banking, personal
banking, and wealth
management and trust services through its offices located in Rhode
Island, southeastern Connecticut and eastern Massachusetts. The
Corporation’s common stock trades on The NASDAQ Global Select® Stock
Marketunder the symbol WASH. Investor information is
available on the Corporation’s web site: www.washtrust.com.
Washington Trust Bancorp, Inc.
Elizabeth B. Eckel, 401-348-1309
Vice President, Marketing
Source: Washington Trust Bancorp, Inc.