Bryn Mawr Trust (BMT), wholly owned by Bryn Mawr Bank Corporation
(NASDAQ: BMTC), announced today that Ernest E. Cecilia, Senior Vice
President and Chief Investment Officer for BMT Wealth Management,
will retire on December 31, 2019. Mr. Cecilia will consult with BMT
through the end of 2020, ensuring continuity of the transition.
“Ernie is a tremendous colleague and human
being. His career has been nothing short of exceptional,” said BMT
Wealth Management President Jennifer Dempsey Fox. “His leadership,
kindness, and sage advice are valued by his clients and, frankly,
everyone who has had the privilege of interacting with him, myself
included. Speaking for all of BMT, I wish him and his family
continued happiness as he begins his next chapter.”
In a letter to his clients, Ernie said, “It has
been an honor and a privilege to serve you and my other clients.
Thank you for choosing BMT and for entrusting me with your most
personal and important financial matters.” He continued, “The
support and attention to clients, and their ongoing confidence in
BMT Wealth Management, is my top priority as I transition to
retirement.”
Ernie joined BMT by acquisition in 2012, after
serving in various capacities at Davidson Trust Company for 14
years. He was Davidson’s Chief Investment Officer at the time of
its acquisition. Before Davidson Trust, he was President and Chief
Investment Officer of PNC Equity Advisors Company.
Ernie is a Chartered Financial Analyst®, a
member of the CFA Society of Philadelphia, and the CFA Institute.
He has attended CFA investment management workshops at the
University of Virginia, Princeton University, and Harvard Business
School. He earned a bachelor’s degree in economics from the
University of Dayton and an MBA from Fordham University Graduate
School of Business.
Ernie has been active in his community
throughout his career and plans to continue doing so in retirement.
He is treasurer of the board of directors of Good Works, Inc., a
nonprofit organization that provides home repairs for low-income
homeowners in Chester County, Pennsylvania.
Details regarding BMT’s next CIO will be
forthcoming.
Bryn Mawr Bank Corporation (NASDAQ: BMTC),
including its principal subsidiary, The Bryn Mawr Trust Company
(BMT), was founded in 1889, and is headquartered in Bryn Mawr, Pa.
BMT is a locally managed, premier financial services company
providing retail and commercial banking; trust administration and
wealth management; and insurance and risk management solutions.
Bryn Mawr Bank Corporation has $4.74 billion in corporate assets
and $14.82 billion in wealth assets under management,
administration, supervision, and brokerage (as of 6/30/19). Today,
the company operates 43 banking locations, five (5) wealth
management offices and two (2) insurance and risk management
locations in the following counties: Montgomery, Chester, Delaware,
Philadelphia, and Dauphin Counties in Pennsylvania; New Castle
County in Delaware; and Mercer and Camden Counties in New Jersey.
For more information, visit bmt.com.
FORWARD-LOOKING STATEMENTS AND SAFE HARBOR This
press release contains statements which, to the extent that they
are not recitations of historical fact may constitute
forward-looking statements for purposes of the Securities Act of
1933, as amended, and the Securities Exchange Act of 1934, as
amended. Such forward-looking statements may include financial and
other projections as well as statements regarding the Corporation’s
future plans, objectives, performance, revenues, growth, profits,
operating expenses or the Corporation’s underlying assumptions. The
words “may,” “would,” “should,” “could,” “will,” “likely,”
“possibly,” “expect,” “anticipate,” “intend,” “estimate,” “target,”
“potentially,” “probably,” “outlook,” “predict,” “contemplate,”
“continue,” “plan,” “forecast,” “project,” “are optimistic,” “are
looking,” “are looking forward” and “believe” or other similar
words and phrases may identify forward-looking statements. Persons
reading this press release are cautioned that such statements are
only predictions, and that the Corporation’s actual future results
or performance may be materially different.
Such forward-looking statements involve known
and unknown risks and uncertainties. A number of factors, many of
which are beyond the Corporation’s control, could cause our actual
results, events or developments, or industry results, to be
materially different from any future results, events or
developments expressed, implied or anticipated by such
forward-looking statements, and so our business and financial
condition and results of operations could be materially and
adversely affected. Such factors include, among others, our need
for capital, our ability to control operating costs and expenses,
and to manage loan and lease delinquency rates; the credit risks of
lending activities and overall quality of the composition of our
loan, lease and securities portfolio; the impact of economic
conditions, consumer and business spending habits, and real estate
market conditions on our business and in our market area; changes
in the levels of general interest rates, deposit interest rates, or
net interest margin and funding sources; changes in banking
regulations and policies and the possibility that any banking
agency approvals we might require for certain activities will not
be obtained in a timely manner or at all or will be conditioned in
a manner that would impair our ability to implement our business
plans; changes in accounting policies and practices; unanticipated
regulatory or legal proceedings, outcomes of litigation or other
contingencies; cybersecurity events; the inability of key
third-party providers to perform their obligations to us; our
ability to attract and retain key personnel; competition in our
marketplace; war or terrorist activities; our ability to complete
anticipated acquisitions and any material differences in the actual
financial results, cost savings and revenue enhancements associated
with our acquisitions; and other factors as described in our
securities filings. All forward-looking statements and information
set forth herein are based on Management’s current beliefs and
assumptions as of the date hereof and speak only as of the date
they are made. The Corporation does not undertake to update
forward-looking statements.
For a complete discussion of the assumptions, risks and
uncertainties related to our business, you are encouraged to review
our filings with the Securities and Exchange Commission, including
our most recent Annual Report on Form 10-K, as well as any changes
in risk factors that we may identify in our quarterly or other
reports subsequently filed with the SEC.
FOR MORE INFORMATION:Jennifer Dempsey Fox, CFP®
PresidentBMT Wealth Management610.263.4600
Tina McDonaldSenior Vice PresidentMarketing610.581.4875
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