Towne Insurance Agency Announces Expanded Executive Management Team and Naming of New President and Chief Executive Officer


SUFFOLK, Va., Feb. 19, 2021 (GLOBE NEWSWIRE) — TowneBank (NASDAQ:TOWN) today reported that its wholly-owned insurance brokerage subsidiary, Towne Insurance Agency, has expanded its Executive Management Team in a move designed to accelerate the strategic development of the agency throughout Virginia, North Carolina and the southeastern United States.

Effective February 16, 2021, W. Douglas Russell joined the Towne Insurance team as President and Chief Executive Officer, succeeding F. Dudley Fulton who will remain with the company as President Emeritus serving in a consulting capacity focused on agency acquisitions.

Russell, 58 years of age with over 35 years of insurance industry experience, has held leadership positions with Henderson & Phillips, Inc., USI Insurance Services, Thomas Rutherfoord, Inc., Marsh & McLennan Agency, and most recently as President of Core Assurance Partners headquartered in Virginia Beach, Virginia.

In addition to Russell, the expanded Executive Management team will consist of Christopher T. Rogerson, Chief Operating Officer; Richard P. Herzberg, President of Towne Benefits; Joseph D. Harrow, President of the Virginia Region of Towne Insurance; James E. Clement, Jr., President of the North Carolina and South Carolina Region of Towne Insurance; and B. Boyd Griffin, Jr, Executive Vice President and Chief Financial …

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