S&W has been retained by Washington Trust to manage the search and selection process for the bank’s Executive Vice President, Chief Retail Banking Officer. Founded in 1800 and headquartered in Westerly, Rhode Island, Washington Trust is the oldest community bank in the U.S and one of the premier financial institutions in the region. The bank has approximately $7.2B in total assets, manages $6.8B in wealth assets under administration, has $5B in deposits, and a $5.6B in loan portfolio. Washington Trust serves customers across established business lines in commercial and mortgage lending and wealth management, creating diverse income sources, and operates 28 retail locations in Rhode Island, Connecticut, and Massachusetts. The bank is publicly traded (NASDAQ – WASH) and in outstanding financial condition. For the most recent reporting period the bank had a return on equity (ROE) of 9.34%, return on assets of 0.60%, outstanding asset quality metrics, and is well-capitalized.
Reporting to the bank’s President & Chief Operating Officer, the EVP, Chief Retail Banking Officer’s main function is to contribute to the strategic direction of the corporation through the effective leadership of the retail banking division. Primary responsibilities will include expert leadership and management of the retail banking team, the development and execution of a strategic plan for the continued growth of the division, the continuous improvement of the existing branch network and customer experience, and a proactive approach to future opportunities to expand the network. The role will serve as a member of senior management and participate in enterprise level initiative and governance functions and committees. We are seeking exceptional retail banking executives for this unique leadership role. Knowledge of the markets currently served by Washington Trust is highly valued. Successful candidates will have a demonstrated track record of utilizing and recommending technology solutions that improve customer experience and process optimization, past success in leveraging retail branches as a driver of deposit growth, and deep product acumen. For additional information, please contact a member of the S&W search team: Cameron Boyd, Managing Partner, Financial Services (cboyd@smithandwilkinson.com) or Darcy Flaherty, Senior Associate, Financial Services (dflaherty@smithandwilkinson.com).