Fulton Financial CEO E. Philip Wenger announces plans to retire

LANCASTER — A change in leadership is coming to Fulton Financial Corp. later this year.

Fulton Financial announced that E. Philip Wenger, chairman and chief executive officer of the corporation will retire effective Dec. 21 after 43 years with the company.

The Lancaster-based Fulton Financial operates 200 financial centers in Pennsylvania, Delaware, Maryland, New Jersey and Virginia, including 18 locations in Berks, Chester and Montgomery counties.

Following his retirement, Wenger will continue to serve as a director of the corporation and its banking subsidiary, Fulton Bank, N.A.

The board of directors of the banking institution has named Curtis J. Myers, currently the company’s president and chief operating officer, to succeed Wenger, effective Jan. 1, 2023. As he assumes his new role, Myers will continue to serve as the bank’s chairman, president and chief executive officer and will continue to serve as a director of the corporation and the bank.

E. PHILIP WENGER

E. Philip Wenger

Wenger joined the bank in 1979, holding a variety of positions in corporate lending before being promoted to executive vice president of corporate banking in 1996. In 2001, Wenger was named senior executive vice president of the Lancaster, York, and Chester counties division and in 2003 he was promoted to the position of president and chief operating officer of the bank. In 2006, Wenger was named the bank’s chairman and chief executive officer. At that time, he was also named senior executive vice president of the corporation. Wenger was promoted to president and chief operating officer of the corporation in December 2008. He assumed his current position of chairman and chief executive officer on Jan. 1, 2013.

“I have spent all of my banking career at Fulton, and it has been a privilege to work for such an exceptional company and with such a talented team. I’m very proud of all that we have accomplished together,” Wenger said in a statement.

CURTIS J. MYERS

Curtis J. Myers

Myers joined the bank in 1990 as a member of the bank’s management training program and has held various positions in commercial banking. In 2000, Myers was promoted to senior vice president and regional manager in commercial banking. He was named a member of the bank’s senior management team in 2004. He became president and chief operating officer of the bank in 2010 and joined the corporation’s senior management team in 2013. In 2018, he was promoted to his current positions of chairman, president and chief executive officer of the bank and president and chief operating officer of the corporation.

“I have had the pleasure of working with Phil for more than 31 years. He has been a thoughtful and decisive leader, through good times and challenging times, and I have learned a lot from him. His principled approach to doing what is right and his focus on shaping our company culture — particularly through the lens of diversity, equity, and inclusion — have left a legacy that will last for many years to come,” Myers said in a statement.

Earlier this month, Fulton Financial Corp. announced it would acquire Prudential Bancorp Inc. in a stock and cash transaction valued at $142.1 million. That transaction is expected to close in the third quarter of 2022, following receipt of regulatory approvals and approval by Prudential’s shareholders.

The acquisition is described as strategic, and one that will accelerate Fulton’s Philadelphia presence.

Under the terms of the agreement, Prudential shareholders will receive Fulton common stock based on a fixed exchange ratio of 0.7974 Fulton shares and $3.65 in cash for each Prudential share they own.

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