By PBN Staff
By PBN Staff
WESTERLY – Citizens Bank President for Rhode Island and Connecticut Edward O. “Ned” Handy III, has left the Providence-based subsidiary of the Royal Bank of Scotland to become president and chief operating officer of The Washington Trust Co., the state’s largest community bank announced Friday.
Handy’s appointment was included in a company release that also stated that current Washington Trust Chairman, President and CEO Joseph J. MarcAurele would retain his chairmanship and chief executive positions.
In addition, current Senior Executive Vice President, Secretary and Chief Financial Officer David V. Devault has been promoted to vice chairman, secretary and CFO.
“Ned is well known within the industry and brings a wealth of regional banking experience to Washington Trust,” said MarcAurele, in a statement. He added that Devault “has been instrumental in the corporation’s successful growth during his 27-year tenure, and will continue to be a valuable part of our leadership team.”
Handy had been the head of Citizens’ Rhode Island operations since 2009, when MarcAurele left that position to move to Washington Trust. In 2010, Handy added Connecticut to his responsibilities. Previously the Brown University graduate had served as president and CEO of Citizens subsidiary Charter One Bank of Ohio. He also led Citizens’ national commercial real estate finance division and was part of Citizens’ executive leadership group.
Marcaurele added that “as a Rhode Island native, Ned is an active community leader and is dedicated to the same principles that have made Washington Trust one of the premier banks in the nation for more than 213 years.” The East Greenwich resident serves on the board of a number of community organizations, including The Rhode Island Foundation and Crossroads Rhode Island. He will take on his new duties in late November.
Handy is moving into the same position that MarcAurele took months before he succeeded John C. Warren as Washington Trust’s top executive, following Warren’s announcement that he was stepping down. There has been no such similar statement from MarcAurele regarding his position at Washington Trust.