R. Bruce Valley has been named president and chief executive officer of Piedmont Trust Bank, lead bank of Piedmont BankGroup, a Martinsville, Va.-based holding company, effective Jan. 1.

Mr. Valley, currently senior vice president of Piedmont Trust, will succeed Irving M. Groves Jr. who will remain as chairman, president, and chief executive officer of the holding company.

The company also said that its management succession committee was seeking a successor to Mr. Groves in anticipation of his retirement at age 65 next March.

Mr. Valley joined Piedmont Trust after working with Palmer Bank Corp., Sarasota, Fla., and as a Federal Reserve bank examiner.

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