Westerly — Joseph MarcAurele will retire next year as chairman and chief executive officer of Washington Trust Bancorp Inc., the corporation’s board of directors announced Tuesday. The corporation is the parent of the Washington Trust Co.

MarcAurele, whose retirement will be effective March 2, will continue to serve as a member of Washington Trust’s board of directors.

Edward "Ned" Handy III, who currently serves as president and chief operating officer, will succeed MarcAurele as chairman and chief executive officer of the corporation and the bank, effective with MarcAurele's retirement.

The corporation’s board also announced that David Devault, vice chairman, secretary and chief financial officer, will retire effective Jan. 31. The board’s long-range succession plan also includes the following executive appointments:

• Mark Gim, who currently serves as senior executive vice president for wealth management and chief strategy officer, will assume Handy’s position and become president and chief operating officer of the corporation and the bank, effective March 2.

• Ronald Ohsberg, who currently serves as senior executive vice president and treasurer, will succeed Devault as chief financial officer of the corporation and the bank, effective with Devault’s retirement on Jan. 31.