The parent company of Berkshire Bank has a new CEO as Michael Daly has stepped down from the position he’s held for 16 years.
Bank president Richard Marotta has taken over as CEO of Berkshire Hills Bancorp. In a company release Nov. 26, Daly did not say why he stepped down, but said he intends to help in the transition.
“I am extremely proud of the accomplishments that the employees of the Company have achieved during my time as CEO,” Daly said in the release. “When I began my tenure 16 years ago Berkshire Bank was one of the smallest banks headquartered in Massachusetts with some 300 employees, the Company is now the largest with nearly 2,000 employees. I’ve built long lasting relationships with many employees during this time who I will continue to view as my family.”
“Mike’s commitment to the Bank, our customers and our communities has been instrumental in Berkshire’s success. We thank him for his focus on creating the strong franchise we have today,” said William Ryan, Chairman of the Board of Directors. “Building on the Company’s progress under Mike’s leadership, Richard is in a strong position to step into the CEO role. He is deeply familiar with our strategy, our markets and our people. Richard, Sean and the rest of the executive team remain committed to growing Berkshire’s operations, executing on the strategic plan and delivering strong results.”
Employing nearly 2,000 people, Berkshire Hills has about $12 billion in assets and 115 full-service branches in Massachusetts, New York, Connecticut, Vermont, New Jersey, and Pennsylvania.
Berkshire Bank is a WAMC underwriter.
