Legacy Banks Names New President
Patrick J. Sullivan
J. Williar Dunlaevy
Sullivan, 54, is expected to transition into the post over the next couple months and move to the Berkshires with his wife, Debra.
His selection is the culmination of a two-year sucession process of the leadership of Legacy Banks and Legacy Bancorp. Inc., according to J. Williar Dunlaevy, who's held the top posts for both entities for the past several years.
"Pat will be just the seventh CEO in the history of the bank and I could not be more confident that we are putting Legacy in very capable and talented hands," said Dunlaevy, 64, in a statement. "Pat Sullivan is the perfect fit for this job and the right fit for our community."
Dunlaevy will remain chairman and chief executive officer of Legacy Bancorp and Sullivan will become president of both the bank and holding company and serve on the boards of both, as well as being CEO of Legacy Banks.
Sullivan will be responsible for running day-to-day operations of the bank, while Dunlaevy will focus on overall company strategic goals, including identifying market-growth opportunities.
Dunlaevy said Sullivan was selected from "an extremely impressive candidate pool." Bank director Anne W. Pasko, chairman of the board's Governance and Nominating Committee, said Sullivan had a proven track record and "was a powerhouse performer of unquestioned integrity and is highly respected in the banking industry."
Sullivan has held a variety of executive and management positions. He joined the Pennsylvania-based Sovereign Bank in 2000 and held posts including managing director of corporate banking and CEO-New England, with responsibility for all commercial and specialty lending efforts, community banking activities for region's 255 branches and $14 billion in deposits.
He also was president and CEO of Howard Bank in Burlington, Vt., and chief operations officer of a mid-sized family distribution business, and executive vice president at First New Hampshire Bank. He holds his bachelor's degree and master of business administration from Bryant University and attended the Executive Management Program at Dartmouth College, Amos Tuck School. He has three grown children, Cara, Rory and Ashley.
"At this point in my career, I am looking forward to returning to my community banking roots and working to grow an institution built around talented people. Legacy fits that bill perfectly," he said in a statement. "I am enthusiastic about getting involved in the communities that we serve and hope to make a difference in social, civic and charitable causes."
Dunlaevy, 64, said he was fortunate in his 40-year career with Legacy, working his way up through the ranks. He became president and CEO in 1996 and championed a growth strategy that guided the bank through two acquisitions and brought the company public in October 2005.
"Now I look forward to beginning the transition of some of those responsibilities to a new leader," he said.