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S&T Bank names SVP; 2 Trian Fund Management execs join Legg Mason board

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S&T Bank names SVP; 2 Trian Fund Management execs join Legg Mason board

S&P Global Market Intelligence presents a daily roundup of management and board changes in the financial services and bank and thrift industries. This feature excludes C-level leadership changes and stories previously covered by S&P Global Market Intelligence.

Banking

Community Bank NA named Scott Duggleby senior vice president and wealth management regional sales manager, The (N.Y.) Record reported.

Duggleby's experience includes working as regional sales manager at Citizens Securities.

Community Bank also named Tim Forman vice president and financial consultant. Forman, who is returning to Community Bank, most recently worked at Sunmark Federal Credit Union as a senior wealth manager

Community Bank is a unit of De Witt, N.Y.-based Community Bank System Inc.

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Indiana, Pa.-based S&T Bank promoted Kristin Rombaugh to senior vice president and retail mortgage operations manager, The Indiana (Pa.) Gazette reported.

She has supported the retail mortgage sales team of the S&T Bancorp Inc. unit for the past five years.

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Traditional Bank Inc. appointed Zachary Moore senior vice president and commercial loan officer, according to The (Lexington, Ky.) Lane Report.

The bank is a unit of Mount Sterling, Ky.-based Traditional Bancorp. Inc.

Financial services

Legg Mason Inc. increased its board of directors to 12 from 10 and appointed Nelson Peltz and Ed Garden to the board.

Peltz is CEO and a founding partner and Garden is chief investment officer and a founding partner of Trian Fund Management LP, which currently beneficially owns about 4.5% of Legg Mason's outstanding common stock.

Also, Trian will identify a third independent director candidate to stand for election at Legg Mason's upcoming annual meeting. Additionally, the board will appoint or nominate for election at least two more independent candidates. The three new independent directors will replace three incumbent directors, two of whom have reached the company's retirement age.