Bay Banks of Virginia in Richmond has hired a former BB&T executive to fill a newly created position that will help guide strategic decisions.
The $1.1 billion-asset Bay Banks said in a Monday press release that it had named Michael Troutman chief revenue officer of its bank. Troutman will be responsible for developing and executing revenue-generation strategies.
Troutman, an 18-year banking veteran, will serve as principal adviser to Randal Greene, Bay Banks’ president and CEO, and the board on new revenue channels, loan and deposit growth, profitability and the client experience.
Troutman previously was BB&T’s market president for Newport News, Va. He has also held leadership roles in Kentucky and North Carolina at BB&T, which recently bought SunTrust Banks and rebranded as Truist Financial.
"Michael's depth of experience” should prove “critical in the next phase of growth” at Bay Banks, Greene said in the release.
Bay Banks also announced that C. Frank Scott III, its bank president, will retire on June 30. Greene, who is CEO of the bank, will succeed Scott, who will remain Bay Banks’ chairman.
