BankRI CEO among top 50 women in U.S. banking

PROVIDENCE – Merrill W. Sherman, president and CEO of Bank Rhode Island, has been ranked by US Banker magazine as one of the nation’s 50 most powerful women in the banking and financial services industry.
Sherman was listed among this year’s 25 Women to Watch. She was the only executive from a New England-based bank to make either the watch list or the magazine’s 2007 listing of 25 Most Powerful Women in Banking.
The 50 women, selected from a field of 4,800 nominees, were honored last month at a gala in New York City. The magazine’s annual rankings take into account a number of factors, including each nominee’s impact on financial performance; number of years in banking; management style; corporate ethics; civic, charitable and community involvement; and influence within her own institution.
Sherman, who in 1996 helped launch BankRI as the second-largest new bank in U.S. history, has a distinguished record as a banker, lawyer and civic leader. A banker for 14 years, she previously had been a practicing attorney for 17 years, focusing on banking, financial and real estate law. She also has been active in the community for many years, working with state, local and federal officials and nonprofit organizations to promote the economic and social vitality of the city and the state.
BankRI’s “superb financial performance in a tough market” and Sherman’s impact as a member of the boards of many philanthropic and educational institutions – including Rhode Island School of Design, The Providence Foundation, Crossroads Rhode Island, the Rhode Island Public Expenditure Council (RIPEC) and Johnson & Wales University – both were cited as factors in her selection.
“This honor makes a powerful statement about Merrill’s strong leadership skills both in the bank and in the community,” Malcolm G. Chace, chairman of the board of directors of Bancorp Rhode Island Inc. (Nasdaq: BARI), the holding company for BankRI, said in a Wednesday statement.
“One of the keys to Merrill’s success and to the success of Bank Rhode Island is that she is an exceptionally strategic person with a gift for reaching goals and for attracting high-caliber people. The board of directors and I are very proud of Merrill’s leadership and are pleased to see her recognized among such distinguished company.”
Bancorp Rhode Island Inc. (Nasdaq: BARI), based in Providence, is the parent of Bank Rhode Island, a state-chartered, FDIC-insured institution with 16 branches in Providence, Kent and Washington counties. Additional information on BankRI and its parent company is available at bankri.com.