Devault, Steinberg receive PBN Business Excellence Awards

PROVIDENCE – David V. Devault, vice chair, secretary and chief financial officer of Washington Trust Bancorp, is the business leadership award winner in Providence Business News’ 15th annual Business Excellence Awards competition.
Devault will be honored for more than 25 years of leadership at Rhode Island’s largest community bank, a time period that has seen three CEOs retire even as the institution has grown from less than $300 million in assets to $3.5 billion.
Devault will be joined as an individual honoree by Neil D. Steinberg, the president and CEO of the Rhode Island Foundation, who will be recognized for corporate citizenship, shorthand for giving back to the community. Earning kudos for excellence at a large company will be Shawmut Design and Construction.
Known for his scrupulous work in overseeing the bank’s financial reports, Devault is one of the key reasons that Washington Trust was listed as one of America’s 50 most trustworthy financial companies in 2015 by Forbes Magazine, according to the company’s application on his behalf. He interacts with all regulatory bodies, including the FDIC, the IRS and the Federal Home Loan Bank, among others. In addition, he has been a key part of the bank’s strategic acquisitions, including two banks and three wealth management firms.
Devault has been engaged in the community in significant ways as well, volunteering with the Rhode Island Alliances of YMCAs, the Ocean Community YMCA, Habitat for Humanity, the Rhode Island Community Food Bank and others.
Steinberg serves on a number of boards and advisory councils in the state, from the Healthy Rhode Island and Race to the Top steering committees to the Business Development Company, the Urban League and the Providence Performing Arts Center, among others.
But while his commitment to the community as an individual is significant, Steinberg has directed the considerable resources of the Rhode Island Foundation to helping the Ocean State tackle some of its most difficult problems. The Make It Happen Rhode Island program, the Rhode Island Innovation Fellowships, the Initiative for Nonprofit Excellence, as well as many others, are a re-imagining of the purpose of the Rhode Island Foundation, one that is benefiting all the state’s citizens.
Other winners include:

  • Excellence at a Large Company: Shawmut Design and Construction
  • Excellence at a Mid-size Company: BlumShapiro
  • Excellence at a Small Company: EpiVax Inc.
  • Community Involvement: CVS Health Corp.
  • Excellence at a Social Service Agency: Clinica Esperanza/Hope Clinic
  • Excellence at a Nonprofit: Healthcentric Advisors
  • Entrepreneurship: Ava Anderson Non Toxic

Scheduled to be the keynote speaker at the Nov. 12 event is David M. Dooley, president of the University of Rhode Island.
Presenting sponsor for the 2015 Business Excellence Awards program is Bank Rhode Island. Partner sponsors are Bryant University’s Executive Development Center, Cox Business, Fish Advertising, Cornerstone/Gencorp Group, LGC&D and Tufts Health Plan. The media sponsor is AM 790.
For information, visit the PBN Events page.

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