Segars Joins Provident as Investment Management Officer

• Press Release
• Source: The Provident Bank
• On 10:00 am EDT, Thursday October 1, 2009

MADISON, N.J.--(BUSINESS WIRE)--The Provident Bank has hired Alan D. Segars as vice president and investment management officer of its Wealth Management Group. This move is part of Provident’s continued expansion of its Wealth Management Group, an initiative begun in response to the growing demand for sophisticated and reliable wealth management services.

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Symbol	Price	Change
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Segars is based at Provident’s Madison branch. He leads and manages the Wealth Management Group’s investment policy, focusing on asset allocation strategies that align products with client risk-return preferences. Making investment recommendations and implementing the group’s strategic plan, Segars designs, articulates, supports and directs investments to complement Provident’s vision.

“With his depth of knowledge and experience with asset allocation strategy and his commitment to responsible investing, Alan is an ideal addition to our team,” said James Nesci, Provident’s chief wealth management officer. “Provident’s 170-year history is filled with responsible decision making and an uncompromised focus on building relationships with customers. We embrace these fundamentals as part of our Wealth Management Group’s practices. Alan’s expertise is invaluable as we continue to grow.”

Segars has more than 30 years of experience in wealth management and investing. Prior to joining Provident, Segars was with ING Investment Management Company as a managing director and senior equity portfolio manager, and previously as a senior fixed-income portfolio manager. He was also previously managing partner with Grigsby Branford Capital Partners, as well as head of Fixed-Income Management for Bank of New York.

“Joining Provident was a great opportunity,” said Segars. “I am excited to be here to help grow and enhance the bank’s Wealth Management Group. We provide a level of service typically missing from traditional wealth management firms. Our general strategy includes asset class diversification to improve return opportunities while reducing risk. However, before recommending an investment strategy, we get to know our customers to gain a full understanding of their long- and short-term needs and goals.”

Segars earned his bachelor’s degree in economics from the City College of New York and his MBA, with a focus in finance and investments, from Bernard M. Baruch College. He is also a Chartered Financial Analyst.

About The Provident Bank

With $4.7 billion in deposits, The Provident Bank serves its customers via a network of 84 branches throughout northern and central New Jersey. The Provident Bank is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS - News), which reported assets of $6.7 billion as of June 30, 2009.

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