• Washington Trust Bancorp, Inc.
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  • Washington Trust Wealth Management Selects Smartleaf Technology
    Sets New Standard for Holistically, Professionally Managed Portfolios 
    Company Release - 11/12/2008 11:31


    Washington Trust Wealth Management today announced that it has selected Smartleaf, Inc. to provide overlay technology for use across its three investment management divisions; Weston Financial Group, Inc., Washington Trust Investors, and 1800 Asset Management. The Smartleaf technology will enable Washington Trust Wealth Management to implement an open-architecture overlay program that combines proprietary models, third-party managers, mutual funds, fixed income and exchange traded funds. This will enable Washington Trust to create and maintain a comprehensive solution that will leverage each division's strengths, without additions to staff.

    According to Jerry Michael, CEO of Smartleaf, "Washington Trust Wealth Management is creating an industry-leading open-architecture overlay program that leapfrogs the offerings of their competitors. We are honored to have been selected by Washington Trust and look forward to supporting their efforts to aggressively expand market share and profitability."

    Galan Daukas, EVP of Washington Trust Wealth Management added, "Smartleaf has partnered with some exceptional clients who provided strong references and metrics to us. They also have a five-year track record of success."

    Washington Trust's investment professionals work in concert to provide clients with comprehensive planning and investment management solutions. Smartleaf will enable Washington Trust to couple its own exceptional proprietary capabilities with those of the world's top money managers. Each day, the Smartleaf technology analyzes every portfolio against the target allocation and generates tax-lot level trade recommendations with written explanations for rationale for the portfolio managers. These trades are tax, transition, expense, and dispersion sensitive.

    About Washington Trust

    Washington Trust Wealth Management is a division of The Washington Trust Company, a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH). With approximately $4 billion in assets under administration, Washington Trust Wealth Management is the largest wealth management firm in Rhode Island and is one of the premier firms in New England. Washington Trust Wealth Management has offices in Providence, Westerly, and Narragansett, Rhode Island and Wellesley, MA. Additional information is available on the Washington Trust Wealth Management web site: http://www.washtrust.com/home/wealth.

    About Smartleaf

    Smartleaf, Inc. is the industry leading provider of overlay technology and model distribution services. Our mission is to enable our clients to manage the wealth of individual investors with an unprecedented level of scale, consistency and customization. Smartleaf enjoys 50 plus referenceable customers in the bank, BD, and RIA channels.

    Source: Washington Trust Bancorp, Inc.

    Contact: Washington Trust Elizabeth B. Eckel, 401-348-1309 Senior Vice President, Marketing ebeckel@washtrust.com