Washington Trust expands commercial banking with new institutional banking team
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Washington Trust (NASDAQ: WASH) is expanding its commercial banking capabilities by forming a dedicated institutional banking team to serve independent schools, private colleges and universities, healthcare and human service providers, and cultural institutions across the Northeast.
The team is led by Gerald S. "Jerry" Algere, senior vice president and managing director, institutional banking, and includes Omar Hazoury, Marissa Lozano, and Danuta I. Surowiec. The group will be based in Wellesley, Massachusetts, and follows the 2025 appointment of Jim Brown as senior executive vice president and chief commercial banking officer.
The move is presented as strengthening Washington Trust's ability to deliver integrated financing and client-focused solutions across its regional footprint.
Details
News Market Reaction – WASH
On Jan 21, the day this news came out, WASH closed 5.05% above the previous close.
Data tracked by StockTitan Argus for the Jan 21 session.
Key Figures
- Institutional banking experience
- 35 years
- Experience of Jerry Algere leading the new institutional banking team
- Rhode Island offices
- 2 offices
- Current offices in Providence and Westerly, Rhode Island
- Connecticut offices
- 2 offices
- Current offices in New Haven and Glastonbury, Connecticut
- Massachusetts offices
- 4 offices
- Current offices in Braintree, Burlington, Sharon, and Wellesley, Massachusetts
- Current share price
- $29.92
- Price before the institutional banking team announcement
- 24h price change
- -1.77%
- Move prior to/around the news publication
- 52-week high
- $34.13
- Upper end of 52-week trading range
- 52-week low
- $24.95
- Lower end of 52-week trading range
Historical Context
-
Set timing for Q4 2025 earnings release and conference call.
-
Declared quarterly cash dividend of $0.56 per share.
-
Announced new full-service Pawtucket branch as the bank’s 29th location.
-
Expanded wealth management team and referenced $190M AUM acquisition.
-
Provided $12.4M financing for a Connecticut retail plaza project.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Builds on strategic leadership hire and positions company for growth
The team is led by Gerald S. "Jerry" Algere, senior vice president and managing director, institutional banking, who has 35 years of experience building and managing multibillion-dollar client banking teams at prominent financial institutions in the greater
Joining Jerry are three talented and well-respected professionals with deep experience in the commercial banking industry: Omar Hazoury, senior vice president, institutional banking, Marissa Lozano, vice president, institutional banking, and Danuta I. Surowiec, institutional banking officer.
Together, this team brings a powerful combination of experience and expertise that will enhance Washington Trust's ability to deliver comprehensive, client-focused finance solutions for institutional organizations. Their addition follows the recent appointment of Jim Brown as senior executive vice president and chief commercial banking officer. Brown, a respected industry leader with a proven track record of building high-performing teams, joined the company in 2025 to lead the commercial banking team and help drive Washington Trust's growth.
"Jerry's team, and the great work they've done for decades, positions Washington Trust as a leader, with best-in-class service, within the nonprofit landscape," said Brown. "Highly regarded across the financial advisors and clients who seek expertise and responsiveness, we could not have found a better group to complement the whole of Washington Trust and its commitment to clients, shareholders and our communities. I've known Jerry for decades and I'm excited for the opportunity to work with him and his fantastic team."
"The addition of this team underscores our strategy to be a trusted partner and offer comprehensive services that help organizations and individuals achieve their financial goals," said Washington Trust Chairman and CEO Ned Handy. "We're strengthening our ability to deliver integrated solutions across all lines of business and a seamless banking experience for our customers—whether they need personal banking, business services, or large-scale institutional financing."
The institutional banking team, serving clients throughout the northeast, will be based in
Founded in 1800, Washington Trust has grown from its initial bank branch in
ABOUT
Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in
View original content to download multimedia:https://www.prnewswire.com/news-releases/washington-trust-expands-commercial-banking-with-new-institutional-banking-team-302666886.html
SOURCE The Washington Trust Company
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.