Arrow Bank Announces Scott Duggleby as SVP, Director of Wealth Management
January 2025 – Arrow Financial Corporation (NASDAQ: AROW), the holding company for Arrow Bank, retained Smith & Wilkinson to manage the search and selection process for the bank’s next Director of Wealth Management. This role was identified as a key strategic priority as the bank continues to invest in and expand its wealth management platform.
Reporting to the bank’s SEVP, Chief Banking Officer, the Director of Wealth Management is responsible for driving the growth and performance of this critical business line. Arrow sought a seasoned wealth management leader with a strong track record of building teams, accelerating revenue growth, and strengthening client relationships within a community banking environment.
Following a comprehensive selection process, the bank selected Scott Duggleby for the role. Duggleby brings over 25 years of wealth management experience, primarily in sales management roles for regional banks, including M&T Securities, Citizens Securities, and most recently with Community Bank, N.A.
The Arrow Financial Director of Wealth Management engagement was managed by Moriah Callahan, Partner & Director of Recruiting, and Cameron Body, Managing Partner.
About Arrow Bank
Headquartered in Glens Falls, NY, Arrow is an approximately $4B, publicly traded, diversified community bank. Arrow is the parent company of two long-standing community banks, Glens Falls National Bank & Trust Company and Saratoga National Bank & Trust Company, as well as for North Country Investment Advisors, Inc. and Upstate Agency, LLC. The bank serves commercial, consumer, and nonprofit customers across northeastern New York and the Capital District through both its retail branch network and a modern suite of online and mobile banking solutions, allowing its customers the flexibility to bank where they want and when they want. The bank is aggressively growing their business in the Capital Region. Arrow is in strong financial condition, and at the time of the engagement reported strong net income ($30MM), total loans ($3.18B), retail deposits ($3.51B), and return on average equity (8.29%). As stated by the company’s President & CEO, David DeMarco, in the 2023 Annual Report, “At the heart of everything we do is our mission to strengthen financial lives and make a positive impact on the communities we serve.” The bank is a fantastic corporate citizen, having donated almost $800,000 to area nonprofits in 2023 and volunteered more than 11,000 staff hours.
About Smith & Wilkinson
For over 25 years, Smith & Wilkinson has been a trusted executive search and talent advisory partner. Our Financial Services team serves banks, credit unions, service providers, associations, nonbank lenders, financial technology companies, community and economic development organizations, and government-sponsored enterprises in attracting, promoting, and retaining senior leaders who drive long-term business success.
Our financial services executive search work includes Board, C-suite, and Director level engagements across executive leadership, strategy, risk, finance, operations, lending, technology, and wealth management, and more. With industry-leading market insight and a consultative approach, we provide both clients and candidates with exceptional visibility into today’s evolving talent landscape.
Looking to fill a leadership role similar to this position? Please contact us to learn more about partnering with Smith & Wilkinson’s Financial Services executive search team to attract, promote, and retain the talent your organization needs to grow and compete.