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.