Citizens executive replaces Vesey at Washington Trust

Westerly - James M. Hagerty, previously a senior vice president at Citizens Bank of Rhode Island, has joined The Washington Trust Co. as executive vice president of commercial lending and chief lending officer, the bank announced this week.

Hagerty replaces James M. Vesey, who retired from Washington Trust at the end of last month after a banking career spanning four decades.

"Jim Vesey's credit experience and expertise helped Washington Trust's commercial lending portfolio grow significantly over the past decade, while avoiding many of the difficulties other banks faced from the downturn in the economy," Joseph J. MarcAurele, Washington Trust's chairman, president and chief executive, said in a statement.

Hagerty, 54, whose office will be at the bank's headquarters on Broad Street in Westerly, will have oversight of all commercial banking activities.

A resident of Warwick, R.I., Hagerty most recently served as Rhode Island regional manager for the global banking firm RBS Citizens. Previously, he spent 13 years at BankBoston, where he held the title of senior vice president and gained experience in commercial lending focusing on health care, energy, public finance and education.

"Jim Hagerty is a talented, experienced commercial lending professional who will help Washington Trust continue to expand our commercial lending presence throughout the New England region," Marc-Aurele said.

A graduate of Providence College and the University of Rhode Island, where he obtained a master of business administration degree, Hagerty earlier had served as finance director for the City of Warwick. He holds memberships in the American Institute of Certified Public Accountants and the Rhode Island Society of Certified Public Accountants.

His public-service work includes serving on the boards of the Rhode Island Clean Water Finance Agency, the Boys and Girls Club of Warwick, the Rhode Island Public Health Institute and Amos House. In addition, he devotes time to the Providence Public Library, Care New England, Saint Rose and Clement Parish and the Anchor of Hope Fund.

The retiring Vesey, who lives in Coventry, R.I. had been with Washington Trust since 1998. A Bryant University graduate, the 65-year-old Vesey had a wide-ranging career in which he held positions of oversight involving branch banking, risk management, investment banking, middle-market and small-business lending and credit administration.

A member of the Rhode Island Bankers Association and The Risk Management Association, Vesey's community work includes serving on the boards of Kent Hospital and the Warwick Boys and Girls Club, as well as being named director of the Central Rhode Island Development Corporation and First Night-Westerly.

l.howard@theday.com