Washington Trust Bancorp Launches Institutional Banking Team to Serve Nonprofit Sector Needs

Washington Trust Bancorp: Strengthening Institutional Banking Services

Washington Trust Bancorp actively enhances its commercial banking focus with the launch of a dedicated institutional banking team aimed at serving the unique needs of independent schools, private colleges, universities, healthcare providers, and cultural institutions throughout the Northeast. Announced on January 21, 2026, this initiative marks a strategic move for the bank to tap into the growing demand for specialized financial services in the nonprofit sector. Spearheading this effort is Gerald S. "Jerry" Algere, whose extensive 35-year background in developing multibillion-dollar client banking teams in the greater Boston area positions him well to lead Washington Trust's new endeavor.

The newly formed team includes three skilled professionals: Omar Hazoury, Marissa Lozano, and Danuta I. Surowiec, each bringing significant commercial banking expertise. Their collective experience is expected to augment Washington Trust's capability to deliver comprehensive finance solutions tailored specifically to institutional organizations. This strategic enhancement reflects Washington Trust's commitment to adapting its services to better meet the demands of a diverse clientele, which has become increasingly crucial in a competitive banking landscape. The formation of this team coincides with the appointment of Jim Brown as senior executive vice president and chief commercial banking officer in 2025, who is recognized for his ability to build high-performing teams that drive growth.

As the bank positions itself as a leader in nonprofit financial services, it underscores its commitment to exceptional client service and responsiveness. Brown emphasizes that this new institutional banking team not only enhances Washington Trust's reputation but also sets the stage for accelerated growth within the institutional banking market. By leveraging the expertise of its newly appointed professionals, Washington Trust aims to establish itself as a trusted partner for clients navigating the complexities of finance in the nonprofit sector, ultimately driving innovation and fostering long-term relationships.

In addition to this team formation, Washington Trust Bancorp is focused on expanding its product offerings to better serve institutional clients. The bank's emphasis on understanding the specific financial challenges faced by these organizations reflects its strategic vision for growth and service excellence. This initiative is not just about expanding market share but also about fostering a culture of collaboration and support within the communities it serves.

With the launch of this dedicated team, Washington Trust Bancorp is well-positioned to meet the evolving needs of its institutional clients, ensuring that they receive tailored financial solutions that align with their unique missions and objectives. The bank’s commitment to this sector signals a proactive approach to addressing the complexities of nonprofit finance, reinforcing its role as a pivotal player in the region's banking landscape.