Washington Trust Appoints Rolando Lora to Head Retail Lending Division

Rhea-AI Summary

The Washington Trust Company has appointed Rolando Lora as Executive Vice President and Chief Retail Lending Officer to lead its mortgage origination and consumer lending operations. Lora, bringing over 30 years of experience from Wells Fargo and JP Morgan Chase, aims to enhance market share and expand retail lending. Washington Trust's Chairman and CEO, Edward O. Handy III, expressed optimism about Lora's leadership, noting his successful managerial track record and community involvement. Founded in 1800, Washington Trust is the oldest community bank in the U.S., offering a variety of financial services across Rhode Island, Connecticut, and Massachusetts. This executive change could position the bank for further growth in its retail lending division.

Positive

• Rolando Lora brings over 30 years of experience in mortgage lending from Wells Fargo and JP Morgan Chase.
• The appointment is expected to drive strategic market share growth and expansion in retail lending.
• Lora has a proven track record in managerial success and community leadership.

Negative

• None.

WESTERLY, R.I., April 26, 2023 /PRNewswire/ -- The Washington Trust Company today announced Rolando Lora has been appointed Executive Vice President and Chief Retail Lending Officer. He is responsible for overseeing mortgage origination, mortgage operations, secondary marketing, and consumer lending activities throughout the Bank's market area.

"We're excited to have Rolando join our executive team and lead our retail lending division's continued strategic market share growth and expansion," stated Edward O. "Ned" Handy III, Washington Trust Chairman and Chief Executive Officer, "During his 30-year career, Rolando has proven to be a successful, results-driven manager but, more importantly, he is an influential and inspiring team and community leader."

Lora, a Harvard, Mass. resident, joins Washington Trust from Wells Fargo's home lending division, where he most recently served as Mortgage Retail Sales Senior Manager for the New England, Upstate New York, and New Jersey region. During his tenure at Wells Fargo, Lora successfully led the retail lending division's regional growth, oversaw key strategic initiatives, and was instrumental in relationship and team-building programs. Prior to joining Wells Fargo, Lora oversaw JP Morgan Chase's New England home lending team growth and market expansion through offices in New Canaan, Conn. and Boston, Mass.  

A graduate of Bryant University, in Smithfield, R.I., Lora is professionally and personally involved in community activities. He served as Family Selection Chair and former director of the Merrimack Valley Habitat for Humanity; a founder and former director of Boston Chapter of the National Association of Hispanic Real Estate Professionals; a member of the Boston Chapter of the Asian American Real Estate Association; a contributor to the Pan Mass Challenge; and a member of the Board of Directors for Friends of Harvard Soccer.

ABOUT WASHINGTON TRUST^®
Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast's premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust can be found at washtrust.com. 

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SOURCE The Washington Trust Company

FAQ

What are Rolando Lora's responsibilities at Washington Trust?

Rolando Lora is responsible for overseeing mortgage origination, mortgage operations, secondary marketing, and consumer lending activities.

What experience does Rolando Lora have in the banking industry?

Lora has over 30 years of experience in mortgage lending, most recently as Mortgage Retail Sales Senior Manager at Wells Fargo.

What is the strategic goal for Washington Trust's retail lending division with Lora's appointment?

The strategic goal is to grow market share and expand retail lending services.