Joseph J. MarcAurele has a solid background in finance, holding a Bachelor's degree from the University of Rhode Island. He served as the CEO and Chairman at Washington Trust Bancorp from 2010 until his retirement in 2018. MarcAurele led the...

Joseph J. MarcAurele has a solid background in finance, holding a Bachelor's degree from the University of Rhode Island. He served as the CEO and Chairman at Washington Trust Bancorp from 2010 until his retirement in 2018. MarcAurele led the company through several solid years, achieving impressive growth, including record earnings of $76.9 million in 2021. During his time, he emphasized a strong corporate culture focused on ethics, inclusivity, and long-term goals. Interestingly, despite retiring, he continues to serve as a director for the bank, reflecting his commitment to the company and its future. His compensation varied widely during his tenure, with total compensation peaking at approximately $1.5 million in 2016, showing how tied his earnings were to the bank's performance. Under his leadership, Washington Trust maintained a competitive edge and focused on customer service and technology, adapting to changing market demands while achieving significant financial growth.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Washington Trust Bancorp CEOs

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Joseph J. MarcAurele

Ex-CEO of Washington Trust Bancorp

Education

Bachelor's degree from the University of Rhode Island.

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

September 24, 1951 - 73 years ago

CEO of Washington Trust Bancorp for

5 years 11 months (Mar 2012 - Mar 2018)

Previous Experience

Various positions at Washington Trust and Citizens Financial Group.

Rivals

Competitors/colleagues of Joseph J. MarcAurele

F

Van A. Dukeman

CEO of First Busey Corporation

2023 Compensation

Stock

$0.00

Salary

$725.00K

Bonus

$561.88K

Other

$51.10K

Total Holdings

$9.87M

F

Mark K. Hardwick

CEO of First Merchants Corporation

2023 Compensation

Stock

$611.04K

Salary

$728.00K

Bonus

$369.81K

Other

$78.87K

Total Holdings

$128.69K

C

Frank S. Sorrentino III

Founder and CEO of Center Bancorp

2023 Compensation

Stock

$1.63M

Salary

$945.00K

Bonus

$878.90K

Other

$182.00K

Total Holdings

$19.33M

P

Anthony Labozzetta

CEO of Provident Financial Services

2023 Compensation

Stock

$61.82K

Salary

$818.27K

Bonus

$309.38K

Other

$121.55K

Total Holdings

$8.84M

I

Gavin A. Mohr

CEO of Independent Bank Corporation

2023 Compensation

Stock

$65.89K

Salary

$302.00K

Bonus

$70.15K

Other

$45.98K

Total Holdings

$639.88K

P

George M. Pereira

CEO of Pacific Premier Bancorp

2022 Compensation

Stock

$2.05M

Salary

$950.00K

Bonus

$522.50K

Other

$0.00

Total Holdings

$185.07K

Holdings

See how much did Joseph J. MarcAurele make over time.

Joseph J. MarcAurele's equity holdings were aligned with his career at Washington Trust Bancorp. At the peak of his earnings in 2016, his various stock awards amounted to approximately 15,000 shares, reflecting his stake in the company’s success. By the...

Joseph J. MarcAurele's equity holdings were aligned with his career at Washington Trust Bancorp. At the peak of his earnings in 2016, his various stock awards amounted to approximately 15,000 shares, reflecting his stake in the company’s success. By the time he retired in 2018, he had transitioned to a retirement plan focused on maintaining stability while also promoting growth. Throughout this period, his net worth experienced fluctuations, particularly highlighted by a significant vested stock value in 2018 of around $1.35 million in performance-based equity. As the company navigated the market, MarcAurele’s leadership was pivotal in conducting strategic maneuvers that aligned with shareholder interests while effectively managing risks. His ability to adapt to changing environments ensured that both he and the company remained relevant despite the dynamic financial landscape.

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Insider Trading

See recent insider trades of Joseph J. MarcAurele.

No insider trades found for this CEO.

Compensation History

See how much did Joseph J. MarcAurele make over time.

Throughout his tenure at Washington Trust Bancorp, Joseph J. MarcAurele's compensation fluctuated based on performance metrics tied to the bank's success. In 2016, he received approximately $1.5 million, demonstrating the financial alignment between his leadership and the company’s profitability. His pay included a salary, bonuses, and stock awards, all aimed at not just rewarding him but also retaining top talent in a competitive banking environment. By 2018, his final year, he had a reduced compensation of about $292,776, underscoring his transition into retirement but still reflecting a strong performance yield from his leadership strategy. The comprehensive compensation structure was designed not just to attract talent but to ensure their goals aligned with shareholder interests, a lesson MarcAurele practiced throughout his career. He left behind a compensation philosophy that emphasized a blend of immediate rewards and long-term incentives, crucial for any top executive.

Year

2018

Total Compensation

$1.54M

Salary

$167.62K

Board Justification

The compensation philosophy is designed to attract, motivate, and retain executives by offering a combination of base salary, annual incentives, and long-term performance-based equity compensation that aligns with shareholder interests.

Bonus

$0.00

Board Justification

Mr. MarcAurele received a pro-rata 150.0% award under the individual performance component due to his strong leadership of the Corporation prior to his retirement.

Other

$19.85K

Board Justification

This includes life and disability insurance premiums and other benefits provided to Mr. MarcAurele during his tenure as CEO.

Restricted Stock

$1.35M(23.58K RSU)

Board Justification

The stock awards that vested in 2018 were performance share units that became earned based on the Corporation’s performance during the measurement period prior to his retirement.

Performance Metrics

The performance metrics for determining the compensation included net income, fully diluted earnings per share (EPS), and return on equity (ROE), with each metric receiving equal weighting.

Other Washington Trust Bancorp CEOs

Here are other CEOs of Washington Trust Bancorp

Edward O. Handy III

CEO of Washington Trust Bancorp

March 2018 - Present