Leadership Transition at Chemung Financial’s Wealth Management Division

A previously announced departure is now taking effect at regional lender Chemung Financial. Thomas W. Wirth, who serves as Executive Vice President, will be leaving the organization on October 1st. This move places an imminent leadership change at the helm of the bank’s profitable wealth management arm, raising questions about the future trajectory of this critical business segment.

The formal notification was recently filed with the U.S. Securities and Exchange Commission, confirming Wirth’s planned retirement. He led the Wealth Management Group at the company’s subsidiary, Chemung Canal Trust Company. His exit concludes a significant chapter for a division that plays a vital role in the bank’s diversified revenue streams.

Wealth management constitutes a fundamental pillar of Chemung Financial’s business model,... Read more...