SMITHFIELD – Bryant University today honored Merrill W. Sherman, president and CEO of Bank Rhode Island, as its fifth New England Businesswoman of the Year. The award was presented at the sold-out Women’s Summit 2008, held at the university.
“Merrill exemplifies what the New England Businesswoman of the Year award is all about,” said Kati Machtley, the director of the annual summit. (READ MORE)
“She spearheaded the 1996 creation of Bank Rhode Island, demonstrating great ingenuity and determination, and has always balanced her career success with tremendous volunteer involvement …. We are thrilled to recognize all of her accomplishments in serving as a role model for women in the New England region.”
The summit credited Sherman with “demonstrating intelligence, ingenuity
and perseverance in her leadership of a multimillion-dollar business,” being involved in the community and serving as a role model for other women.
“I am humbled to be receiving the Businesswoman of the Year award and to be included among the outstanding woman leaders who will speak at the conference,” Sherman said.
“When I was asked to make some remarks to the nearly 1,000 women and men who will be in attendance … I turned to the theme of the Summit – ‘Inspiration and Empowerment’ – and revisited what has inspired and empowered me through the years.
“There are six traits that I found most important,” she said:
“First, set a goal or objective for yourself.
“Second, absolutely believe in what you do, because that conviction will lead to effectiveness.
“Third, plan on working incredibly hard at whatever you do.
“Fourth, make sure you enjoy what you do, because that enjoyment will provide you with passion and commitment to work hard and an ability to enjoy life.
“Fifth, be willing to take risks and be open to change.
And last, but not least, recognize your weaknesses – and hire around them.”
Sherman began her career as a lawyer focusing on banking, finance and real estate law. She later moved into banking, and in 1996, launched BankRI as the second-largest new bank in U.S. history.
Active in the community, Sherman has worked with Providence Mayor David N. Cicilline and U.S. Sen. Jack Reed, among others, on a number of public policy and economic development issues affecting Providence and Rhode Island.
A board member over the years for many education, social services, arts, and business or economic development organizations, she currently serves as a director or trustee of the Rhode Island School of Design, The Providence Foundation, Crossroads Rhode Island and the Rhode Island Public Expenditure Council. She also has volunteered for causes that aim to improve the personal lives of women and children, co-chairing the Individual Gifts Committee for the Women & Infants Hospital Capital Campaign, and was named the 2007 Citizen of the Year by the March of Dimes.
Last year, she was honored by U.S. Banker – in its annual 25 Most Powerful Women in Banking edition – as one of 25 Women to Watch in 2007. Chosen from a pool of 4,800 candidates, she was ranked among the banking and financial services industry’s top 50 professional women nationwide.
Bancorp Rhode Island Inc. (Nasdaq: BARI) – based in Providence – is the parent of Bank Rhode Island, a state-chartered, FDIC-insured institution with 16 branches in Providence, Kent and Washington counties. Additional information about BankRI and its parent company is available at bankri.com.
The Women’s Summit at Bryant University is produced each year by The Women’s Summit Commitee. The 2008 event was sponsored by Fidelity Investments and The Amica Cos., with additional support from Amgen; BankRI; Hinkley, Allen & Snyeder LLP; National Grid; Navigant Credit Union; PricewaterhouseCoopers, Sensata Technologies; Textron; the Citizens Bank Foundation; GTECH; Hampton Inn & Suites; Ikon Office Solutions; Lefkowitz, Garfinkel, Champi & DeRienzo PC; Right Management; and Sperian; and Colonial Printing. Providence Business News was the media sponsor. To learn more, visit wsummit.bryant.edu.
