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T. Rowe Price shuffles ranks in multi-asset division

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T. Rowe Price shuffles ranks in multi-asset division

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 key C-level leadership changes, which are covered separately, and stories previously covered by S&P Global Market Intelligence.

Banking

Westfield, Mass.-based Western New England Bancorp director Kevin Sweeney resigned from the board, effective Sept. 19.

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Paramus, N.J.-based SB One Bancorp director Patrick Brady resigned from the board, effective Sept. 19.

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Los Angeles-based Hope Bancorp Inc. appointed Joon Kim to its board and that of its unit Bank of Hope, effective Oct. 1. He is a national partner at KPMG and is set to retire from the firm on Sept. 30.

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Waldorf, Md.-based Community Financial Corp. director John Parlett Jr. resigned from the board and that of its unit Community Bank of the Chesapeake, effective Sept. 19.

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Fairfax, Va.-based MainStreet Bancshares Inc. appointed Richard Vari vice president and chief accounting officer, effective Sept. 24. He will also serve as the principal accounting officer for the company.

He most recently was audit and assurance manager at Elliott Davis LLC.

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Altavista, Va.-based Pinnacle Bankshares Corp. hired Michael Lyster as senior vice president and market leader for Charlottesville, Va.

Financial services

TCG BDC Inc. treasurer and principal accounting officer Venugopal Rathi resigned, effective Sept. 19, to pursue other opportunities.

The company's board appointed Michele Reing as the interim treasurer and principal accounting officer, effective Sept. 23. She is managing director and deputy head of fund management at Carlyle Group LP.

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NCR Corp. added Katie Burke and Kirk Larsen to its board.

Burke is a senior strategist at communications company Edelman, while Larsen is executive vice president and CFO at Black Knight Inc.

Additionally, directors Linda Levinson, Robert DeRodes and Kurt Kuehn will retire from the board at the end of their terms at the 2020 annual shareholders meeting.

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Fiduciary Trust Co. International hired Jennifer McCarthy as trust counsel and managing director for its New York office.

She previously was counsel at Davidson Dawson & Clark LLP.

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VersaBank unit DRT Cyber Inc. added Barbara Chaffee to its board. She is president and CEO of the Tom Ridge Environmental Center Foundation.

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EVO Payments Inc. appointed Laura Miller to its board, effective Sept. 24. She is senior vice president and global chief information officer at InterContinental Hotels Group PLC.

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State Street Corp. unit Charles River Development named Randy Bullard global head of wealth management.

Before his appointment, Bullard was general manager of wealth management at SigFig, a provider of digital wealth management programs.

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Jerome Clark, who co-manages T. Rowe Price Group Inc.'s multi-asset target-date strategies, will step away from day-to-day portfolio management, effective in January 2021. Following this 15-month transition period, he will remain with the company and focus on strategic initiatives for the multi-asset division and target-date franchise.

Wyatt Lee, co-portfolio manager of the multi-asset target date strategies with Clark, will become head of target date strategies, a new role with oversight of the full target date team, effective in October. He has worked as a target date portfolio manager since 2013 and as co-portfolio manager of the retirement funds since 2015.

Also, Kim DeDominicis will be promoted to portfolio manager of the target date portfolios in October and Andrew Jacobs van Merlen will join the target date team as a portfolio manager, effective in January 2020.