SPOKANE, Wash. – Washington Trust Bank announced a reshuffle of key leadership roles on Monday.
Peter Stanton took a step back from serving as Chief Executive Officer but will remain the Executive Chairman of the board, maintaining the leadership of the Stanton family within the institution.
The changes mostly repositions professionals who were already in prominent roles at the bank. Jack Heath, who was previously the bank’s President and Chief Operating Officer, is now Chief Executive Officer.
Former Chief Lending Officer Kevin Blair ascended to the presidency, while former Chief Banking Officer Jim Branson took over as COO.
Andy Beitia, who formerly served as Chief Lending Officer, took Blair’s role as Chief Lending Officer.
Washington Trust stated that the leadership changes are part of a broader company strategy.
“Made in accordance with a multi-year succession plan thoughtfully orchestrated by Chairman and CEO Peter Stanton, the promotions reflect the confidence that he and President/COO Jack Heath share in the expertise, capabilities, and values of key personnel,” the organization said.
Washington Trust has been operated by Spokane’s Stanton family since 1902. Peter Stanton represents the fourth Stanton to lead the company, who became president and CEO in 1990.
