Cambridge Trust Welcomes John Traynor to Wealth Management Team

Rhea-AI Summary

Cambridge Bancorp (NASDAQ: CATC) has appointed John Traynor as the new President of its Wealth Management Team in Connecticut. With over 35 years of wealth management experience, Traynor previously served as Chief Investment Officer at Peoples United Advisors, where he increased assets under management from $3.4 billion to $10.4 billion. Cambridge Trust aims to broaden its wealth management services in Connecticut, bolstered by its existing $4.7 billion in client assets under management as of March 31, 2022.

Positive

• Appointment of experienced wealth management leader John Traynor.
• Traynor's track record of growing AUM from $3.4 billion to $10.4 billion.
• Potential for increased market presence in Connecticut.

Negative

• None.

35-year investment veteran to lead Cambridge Trust's expansion in Connecticut

CAMBRIDGE, Mass., July 13, 2022 /PRNewswire/ -- Cambridge Bancorp (NASDAQ: CATC), parent of Cambridge Trust Company, today announced that John Traynor has joined to lead Cambridge Trust's Wealth Management Team in Connecticut. As President of Cambridge Trust Wealth Management-Connecticut, Traynor will work to expand wealth management services in the Constitution State.

"We're excited to welcome John to Cambridge Trust's Wealth Management leadership team" said Jennifer A. Pline, CFA, EVP, Head of Wealth Management. "Under his stewardship, we are confident that we will achieve our Wealth Management goals in this attractive market by offering our broad range of sophisticated wealth management services."

"We are delighted to welcome John, an experienced wealth management professional, to the Cambridge Trust team," said Denis K. Sheahan, Chairman, President and CEO.

Traynor joins Cambridge Trust with over 35 years of experience in wealth management, having most recently served as Chief Investment Officer at Peoples United Advisors. Under his leadership at Peoples, Traynor unified seven separate investment teams into a cohesive group and saw the firm's AUM grow from $3.4 billion to $10.4 billion over the course of a decade.

Prior to his work with Peoples United Advisors, Traynor spent 20 years as Partner and later Director of Investment Strategy & Alternative Investments at Thorson Traynor (later PNC Private Bank Hawthorn). He has also served in leadership roles at Citytrust Bancorp and Shawmut National Bank.

"A critical pillar of wealth management and private banking is trust between the institution and its clients," said John Traynor, President, Cambridge Trust Wealth Management-Connecticut. "That's why I'm pleased to join the Cambridge Trust team, which has embodied these values for more than a century, as it looks to broaden its footprint in the state of Connecticut. I'm looking forward to continuing the company's legacy of service and trust in my home state with a strong team of experienced wealth managers."

For more information, visit www.cambridgetrust.com

About Cambridge Bancorp

Cambridge Bancorp, the parent company of Cambridge Trust Company, is based in Cambridge, Massachusetts. The 132-year-old Massachusetts chartered commercial bank has approximately $5.0 billion in assets at March 31, 2022, and a total of 19 Massachusetts and New Hampshire locations. Cambridge Trust is one of New England's leaders in private banking and wealth management with $4.7 billion in client assets under management and administration at March 31, 2022. The Wealth Management group maintains offices in Boston and Wellesley, Massachusetts and Concord, Manchester, and Portsmouth, New Hampshire. For more information, visit www.cambridgetrust.com.

Media Contact: Danielle Remis Hackel (617) 441-1421

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SOURCE Cambridge Bancorp

FAQ

Who is the new leader of Cambridge Trust's Wealth Management Team in Connecticut?

John Traynor is the new President of Cambridge Trust's Wealth Management Team in Connecticut.

What was John Traynor's previous position before joining Cambridge Bancorp?

John Traynor was the Chief Investment Officer at Peoples United Advisors.

What is the current assets under management for Cambridge Trust as of March 2022?

As of March 31, 2022, Cambridge Trust has $4.7 billion in client assets under management.

What are Cambridge Trust's plans for expansion in Connecticut?

Cambridge Trust plans to expand its wealth management services in Connecticut under John Traynor's leadership.

What experience does John Traynor bring to Cambridge Trust?

John Traynor brings over 35 years of experience in wealth management and a successful track record of growing assets.