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Marple Elected Chairman of Bay Banks of Virginia Board
Photo: Left – Allen C. Marple is
receiving the gavel from former Chair Robert J. Wittman with Bay Banks
of Virginia President and CEO Austin L. Roberts III congratulating both
of them.
Allen C. Marple has been elected as Chairman of the Board of Bay Banks
of Virginia, reports Bay Banks President & CEO Austin L. Roberts, III.
Marple succeeds Robert J. Wittman who had served as Chairman since
August 2007. At the Bay Banks of Virginia Board meeting in February,
Wittman advised that his new responsibilities as our U.S. Congressman
prevent him from being able to devote the time required for the role of
Chairman. He will remain as a Director on the Board. Bay Banks of
Virginia is the holding company for Bank of Lancaster and Bay Trust
Company.
Marple has been a Director of the Bay Banks of Virginia Board since
March 2005 and currently serves as Chairman of the Board of Bay Trust
Company. He is also a retired Director from Bank of Lancaster’s Board.
Marple moved to Lancaster County in 2000 from Toronto, Canada, where he
was president of Spectrum Investments, a wholly-owned subsidiary of Sun
Life Insurance Company. Marple received a B.A. degree in Economics from
Cornell University and attended the Graduate School of Business at New
York University.
After beginning his banking career in 1959 with Chase Manhattan Bank in
New York City as a Credit and Marketing Officer, and after two
promotions, Marple became the Managing Director for Chase Manhattan
Limited in London, England, which is the flagship for Chase’s
international merchant banking activities. He then became Director of
Chase Manhattan Capital Markets Group in New York City. Marple moved to
Toronto in 1983 as Senior Vice-President – Merchant Banking Division
with the Bank of Montreal. He was responsible for directing merchant
banking activities worldwide. In 1990, he became President of Spectrum
Investments.
Active in civic and charitable community organizations, Marple is
Director and President of the Rappahannock Foundation for the Arts and a
Director for the Chesapeake Academy Foundation. He is a past Director
for the Northern Neck YMCA; past Chairman of the Board of Directors for
the National Ballet of Canada; and past Chairman of the Board of
Directors for the Investment Funds Institute of Canada.
Marple and his wife Joan reside in Merry Point. They have three grown
sons, three grandsons and a granddaughter.
Roberts stated, “We feel very fortunate to have community leaders like
Allen and Rob as a part of our Bay Banks’ family. Congressman Wittman
has provided our Company great leadership while serving as its Chair.
While his responsibilities to our Nation and Virginia’s First District
have caused him to pass the Chair’s responsibilities to Allen Marple, we
are most pleased that he desires to continue to provide his counsel to
Bay Banks as one of its Directors. Allen’s broad background and
expertise in the financial institution industry, exemplifies the type of
individual for leadership of the Bay Banks of Virginia Board. We look
forward to a bright future for our family of companies and we know that
Allen’s continued support and leadership will help us as we seek to
fulfill our mission to meet the financial needs of our friends and
neighbors throughout the Northern Neck and Middle Peninsula.”
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