BRYN MAWR, Pa., April 04, 2017 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (NASDAQ:BMTC), parent of Bryn Mawr Trust (BMT), announced today that it is planning to open an office in Princeton, N.J., focusing on wealth management services.
“Expanding into Central New Jersey with our wealth services is the logical next step for BMT, and it is consistent with our stated objective of selectively exporting our brand to new markets,” said Frank Leto, President and CEO of BMT. “Opening a BMT office in Princeton is the initial step in our expansion plan, and builds on our pending acquisition of Royal Bank America, which has an established Princeton presence.”
Mr. Leto continued, “We believe Central New Jersey, and Princeton, in particular, will provide BMT with tremendous growth opportunity. The initial start-up cost for the office is expected to be slightly dilutive to earnings per share, as business volumes will take time to grow; however, once our pending acquisition of Royal Bank America is completed, BMT will be well-positioned to offer a comprehensive suite of financial solutions.”
BMT hired a dedicated group of wealth professionals who will form the foundation of its organization in New Jersey: Elizabeth Protage Walsh, Francis J. Keene, CFP®, Paul J. Gaudio, CFP®, ChFC®, and Kimberly G. Kingsland, CTFA.
“These individuals have worked together closely for years, and we are delighted that they have chosen to bring their wealth management expertise to BMT,” said Gary Madeira, Executive Vice President of BMT and Head of its Wealth Management Division.
Ms. Walsh, Senior Vice President, will lead BMT’s team in Princeton. Before joining BMT, she spent 29 years at PNC Wealth Management. Ms. Walsh is a leader in the community and serves on several not-for-profit boards, including the Princeton Public Library Foundation and the Princeton Area Community Foundation. She received her A.B. from Princeton University.
Mr. Keene, Senior Vice President and Investment Advisor, is a Certified Financial Planner™ professional. Prior to joining BMT, he had been with PNC for 15 years, and before that, he spent 19 years with Merrill Lynch Investment Managers – Private Investors in Princeton. Active in the community, Mr. Keene has been an officer of Princeton Nursery School’s board of trustees since 2011, most recently serving as president. He received a B.S. in Commerce from Rider University.
Mr. Gaudio, Senior Vice President and Wealth Planner, is a Certified Financial Planner™ professional and Chartered Financial Consultant®. Prior to joining BMT, he worked at PNC and a predecessor bank for 28 years. Outside of work, Mr. Gaudio is an adjunct teacher of Income Tax at Fairleigh Dickinson University. He received a B.S. in Business Administration from Duquesne University and an M.S. in Taxation from Fairleigh Dickinson University.
Ms. Kingsland, Senior Vice President and Wealth Advisor, is a Certified Trust and Financial Advisor and fiduciary specialist. Prior to joining BMT, she worked at PNC for 13 years, and earlier in her career, she was a trust officer with United Trust Bank and a lawyer in private practice. Ms. Kingsland received her B.A. from Villanova University and a J.D. from Seton Hall University School of Law.
The opening of the BMT’s specialty office in Princeton, NJ is expected to occur this quarter and is subject to applicable regulatory approval.
About Bryn Mawr Trust
Bryn Mawr Bank Corporation (NASDAQ:BMTC), including its principal subsidiary, The Bryn Mawr Trust Company (founded in 1889; headquartered in Bryn Mawr, Pa.), is a locally managed financial services company providing retail and commercial banking, trust administration and wealth management, and insurance solutions. Bryn Mawr Bank Corporation has $3.42 billion in corporate assets and $11.33 billion in wealth assets under management, administration, supervision, and brokerage (as of 12/31/2016). For more information, visit www.bmtc.com.
