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BMT Chief Investment Officer Ernie Cecilia Announces Retirement After 40 Years In Financial Services

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BRYN MAWR, Pa., Aug. 16, 2019 (GLOBE NEWSWIRE) -- Bryn Mawr Trust (BMT), wholly owned by Bryn Mawr Bank Corporation (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 (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.

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.

Jennifer Dempsey Fox, CFP®
BMT Wealth Management

Tina McDonald
Senior Vice President