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Berkshire Bank Appoints Farrell To Executive Team12:21PM / Thursday, July 02, 2009
Former Berkshire Hills Bancorp Director Brings More Than 30 Years of Experience
PITTSFIELD, Mass. – Berkshire Hills Bancorp (NASDAQ: BHLB) and its banking subsidiary, Berkshire Bank, has appointed former Board Director David B. Farrell to Executive Vice President, Integrated Services.
Farrell will be responsible for the company’s insurance and wealth management business lines, and their integration with the company’s other products and service offerings. These lines together produced 18 percent of the company’s total revenues in 2008, and Berkshire is actively pursuing expansion of these and related services through acquisitions and organic growth throughout its footprint.
Farrell has extensive experience with Berkshire and a deep understanding of the company’s business. He has been a director of Berkshire Hills Bancorp since 2005 and also, a consultant who assisted with brand integration and expansion strategies for these business lines. In conjunction with his appointment as Executive Vice President, Mr. Farrell has resigned from his position as a director of the Company and Berkshire Bank.
“Dave Farrell has served Berkshire well as a director and most recently as a consultant. He has tremendous experience in building and managing sales and service cultures,” said Daly. “Berkshire has a great opportunity to develop our integrated financial service lines in our expanding regional markets, and to identify acquisition opportunities to further build market share. We look forward to Dave’s contribution in this new role with our executive team”
Farrell was previously a Division President with TJX Companies. Prior to that he was EVP and CFO of KB Toys, a division of the former Melville Corporation now known as CVS/Caremark. A longtime Berkshire County resident with deep ties to the community, Farrell resides in Sheffield with his wife Mary and two teenagers, Molly and Jake.
Background
Berkshire Hills Bancorp is headquartered in Pittsfield, Massachusetts. It has approximately $2.7 billion in assets and is the parent of Berkshire Bank - America's Most Exciting BankSM. Berkshire provides personal and business banking, insurance, wealth management, and investment services through 48 banking and insurance financial centers in western Massachusetts, northeastern New York, and southern Vermont. Berkshire Bank also offers the added benefit of providing its depositors 100 percent insurance protection, regardless of amount, based on a combination of FDIC insurance and the Depositors Insurance Fund (DIF). For more information, visit www.berkshirebank.com or call 800-773-5601. |
"Farrell will be responsible for the company’s insurance and wealth management business lines, and their integration with the company’s other products and service offerings."
It wouldn't be honest of me if I didn't say that was bad news for guys like me!
I have no doubt that Mr. Farrell will do a great job for BHLB cross-selling their many wonderful services.
I've always been very impressed with how large BHLB has grown their wealth management division (something like a half-billion of AUM, from what I understand).
How I'd like to be a fly on the wall during one of their business building meetings! I'm sure I could learn a lot from a veteran from Mr. Farrell. Congratulations, sir.
(Not to steal thunder from Mr. Farrell, but while on the subject of BHLB, I'd like to publicly say thank you to Mike Daly for helping out my kid-sister-in-law.)
Warm Regards,
Allen Harris
| | from: Allen Harris | on: 07-02-2009 |
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