Washington Trust expands commercial banking with new institutional banking team
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.
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News Market Reaction
On the day this news was published, WASH gained 5.05%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
WASH declined 1.77% while regional bank peers showed mixed moves; notably, EGBN appeared on momentum scanners with a gain of about 6.11% and no same-day news, suggesting WASH’s trading was more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 16 | Earnings call date | Neutral | -0.5% | Set timing for Q4 2025 earnings release and conference call. |
| Dec 18 | Dividend announcement | Positive | +0.8% | Declared quarterly cash dividend of <b>$0.56</b> per share. |
| Dec 15 | Branch expansion | Positive | +0.0% | Announced new full-service Pawtucket branch as the bank’s 29th location. |
| Dec 02 | Wealth team hires | Positive | +0.2% | Expanded wealth management team and referenced $190M AUM acquisition. |
| Nov 18 | CRE financing deal | Positive | +0.1% | Provided <b>$12.4M</b> financing for a Connecticut retail plaza project. |
Recent news—including dividends, branch and team expansions, and financing deals—has typically been followed by modest, low-volatility price reactions close to flat.
Over the last few months, Washington Trust has focused on incremental growth steps. In November 2025 it provided $12.4 million in retail plaza financing, then in December 2025 expanded its wealth management team and highlighted a prior acquisition with $190 million in assets under management. It also announced its 29th branch and maintained a quarterly dividend of $0.56 per share. The current institutional banking build-out continues this steady expansion theme.
Market Pulse Summary
The stock moved +5.0% in the session following this news. A strong positive reaction aligns with Washington Trust’s ongoing strategy of building out commercial and institutional capabilities. The addition of an experienced institutional banking team complements prior branch and wealth management expansions and could be read as reinforcing growth ambitions. Investors would still need to watch upcoming earnings, integration progress, and overall credit trends to assess how effectively this hiring translates into balance sheet and revenue growth.
AI-generated analysis. 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
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SOURCE The Washington Trust Company
FAQ
What did Washington Trust (WASH) announce on January 21, 2026 about its commercial banking strategy?
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