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Cambridge Savings Bank President and CEO Announces Resignation

 

Oct 10 - Cambridge Savings Bank has announced the resignation of President and CEO Robert M. Wilson, effective Dec. 31. Wilson, who took a medical leave of absence earlier this year, will remain with CSB as a member of its board of directors.

“Cambridge Savings Bank deeply appreciates Bob Wilson’s record of service to the bank and to the communities it serves,” said Alan McClennen Jr., chairman of Cambridge Savings Bank and the bank's holding company, Cambridge Financial Group. “Everybody associated with the bank has been heartened by the tremendous strides Bob has made since taking leave and we look forward to his full recovery.”

The board of directors announced that Cambridge Savings has convened a succession committee to identify a new chief executive to lead the bank, which has experienced strong commercial and consumer lending growth while making community reinvestment a top priority under Wilson’s leadership.

Kevin J. Fitzgerald, a former chairman of the bank’s board who has worked with Cambridge Savings for more than 45 years, has served as acting president and CEO of the bank since June.

Wilson has served as president and CEO of Cambridge Financial Group Inc. and Cambridge Savings Bank, as well as the president of Cambridge Appleton Trust, N.A. since January 2007. Wilson, who has more than 30 years of banking experience, joined CSB in 1995 as executive vice president and was appointed president and chief operating officer in June 2005. Wilson has been actively involved in the Massachusetts Bankers Association and American Bankers Association. He is a member of the board of overseers at the Mount Auburn Hospital and the board of directors of the Greater Boston Chamber of Commerce. He is former chairman of the Cambridge Housing Assistance Fund.

About Cambridge Savings Bank
Inspired by making a difference, Cambridge Savings Bank is a full-service financial institution with approximately $2.3 billion in assets that is committed to improving the quality of life in the communities it serves. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has 16 banking centers located in Cambridge, Acton, Arlington, Bedford, Belmont, Burlington, Concord, Lexington, Newton Centre, Newtonville and Watertown. For more information about Cambridge Savings Bank, go to: www.cambridgesavings.com.


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