MIDDLEBURG, Va., Dec. 21, 2010 /PRNewswire-FirstCall/ -- Middleburg Financial Corporation (the "Company") (Nasdaq: MBRG), announced today that Mr. David L. Hartley has been named President and Chief Executive Officer of Middleburg Investment Group, a wholly-owned subsidiary of the Company with over $1.3 billion in assets.
In announcing this promotion, Gary R. Shook, President and CEO of Middleburg Financial Corporation said, "Over the past eleven years, David has played a significant role in building Middleburg Trust Company's business throughout the Piedmont Region and this proven record of success bodes well for the Company as he takes on this new role." Mr. Shook added, "We know David will provide the leadership, strategic vision and business development acumen necessary to help Middleburg Financial Corporation continue its focus on meeting the diverse needs of our clients while also building multiple sources of revenue that will help improve our Company's bottom line performance."
In his new role, Mr. Hartley will have oversight and accountability for all of the Company's investment management business, including Middleburg Trust Company, Middleburg Investment Services and Middleburg Investment Advisors.
Mr. Hartley joined Middleburg Financial Corporation in 1999 as Vice President with Middleburg Trust Company. In 2007, he was promoted to SVP, Community Executive with management responsibility for all of the Company's lines of business in Middleburg. Prior to joining Middleburg Financial Corporation, Mr. Hartley was an Investment Representative with Morgan Stanley Dean Witter and Alex. Brown & Sons.
"I am honored to be named President and CEO of Middleburg Investment Group. We have a talented team of investment professionals with deep expertise in a variety of investment strategies and I look forward to working with each of them as we continue to meet the investment needs of our clients," said Mr. Hartley.
Mr. Hartley has been active in many civic and charitable organizations in and around Middleburg. He was a founding board member of the Piedmont Community Foundation and has been involved with Blue Ridge Hospice, the VBA Government Relations Board, Trinity Church in Upperville where he served as treasurer and vestry member, Middleburg Tennis Club, Piedmont Child Care Center and Ducks Unlimited. He lives with his wife and two children in The Plains.
About Middleburg Financial Corporation
Middleburg Financial Corporation is headquartered in Middleburg, Virginia and has two wholly owned subsidiaries, Middleburg Bank and Middleburg Investment Group, Inc. Middleburg Bank serves communities in Virginia with financial centers in Ashburn, Gainesville, Leesburg, Marshall, Middleburg, Purcellville, Reston, Warrenton and Williamsburg. Middleburg Investment Group owns Middleburg Trust Company and Middleburg Investment Advisors, Inc. Middleburg Trust Company is headquartered in Richmond, Virginia with offices in Williamsburg, Middleburg and Alexandria, Virginia. Middleburg Investment Advisors, Inc. is an SEC registered investment advisor located in Alexandria. Middleburg Financial Corporation is also the majority owner of Southern Trust Mortgage, which is based in Virginia Beach and provides mortgages through 17 offices in 11 states.
SOURCE Middleburg Financial Corporation