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Eastern Bank Announces Appointments To Its Management Committee
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Eastern Bank has announced key appointments to its Management Committee, including Gregory P. Buscone, Martha A. Dean, Timothy J. Lodge, Matthew A. Osborne, and Sujata Yadav. CEO Bob Rivers expressed optimism about their diverse expertise and community involvement. The Management Committee now comprises fourteen senior executives, with 64% being women, people of color, or younger than 50. Eastern Bank, founded in 1818, has over 120 locations and approximately $24 billion in total assets, emphasizing its commitment to community engagement and strategic growth.
Positive
Key appointments to the Management Committee enhance Eastern Bank's leadership.
Diverse representation in the Management Committee aligns with modern corporate governance.
Eastern Bank's significant total assets of approximately $24 billion indicate financial stability.
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BOSTON--(BUSINESS WIRE)--
Eastern Bank is pleased to announce the following appointments to its Management Committee: Gregory P. Buscone, Executive Vice President, Senior Commercial Banking Officer; Martha A. Dean, Executive Vice President and Senior Operations Director; Timothy J. Lodge, President and CEO of Eastern Insurance Group LLC; Matthew A. Osborne, Executive Vice President, Senior Commercial Banking Officer; and Sujata Yadav, Executive Vice President and Chief Marketing Officer.
“We are thrilled to welcome Greg, Martha, Tim, Matt and Sujata to Eastern’s Management Committee and look forward to their continued contributions,” said Bob Rivers, CEO and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank. “Their diverse range of expertise, tenure at Eastern, and community and industry involvement will serve our organization and planning of strategic objectives well.”
Eastern’s Management Committee is comprised of the company’s fourteen most senior executives. Sixty-four percent of its members are women, people of color, or younger than 50 years of age. As part of Eastern’s ongoing succession planning, many Management Committee members have led various areas of the organization prior to their current areas of responsibility.
Gregory P. Buscone joined Eastern in 2017 as Senior Vice President and Regional Group Head in Commercial Banking with responsibility for Eastern’s Commercial & Industrial lending portfolio which includes working capital/lines of credit, equipment/term loans, real estate loans, acquisition financing, and asset based lending, with specialties in security alarm-, franchise- and employee stock ownership plan-related financing. He was promoted to Executive Vice President, Senior Commercial Banking Officer in 2019. Previously, he spent 17 years at Citizens Bank, serving as a Senior Vice President and Market Manager for Massachusetts Middle Market and Specialized Lending. Active in the community, Mr. Buscone sits on the Board of Directors of Bay Cove Human Services where he is Treasurer and chairs the Investment Committee, and the Associated Industries of MA, where he co-chairs its Diversity & Inclusion Committee.
A native of Lowell, Massachusetts, Martha A. Dean has worked in operations at various Massachusetts banking institutions for more than 35 years. Her broad experience includes managing deposit operations, electronic services, loan operations, loan processing, compliance, internal audit, technology, information security and operational risk. She joined Eastern in 2014 as Senior Vice President of Operational Risk Management and in 2018, was promoted to Senior Vice President of Operations, and in 2021 to Executive Vice President of Operations. Her prior experience includes: Chief Operations and Risk Officer at Centreville Savings Bank; Chief Operating Officer at Grafton Suburban Credit Union; Chief Operations Officer and CIO at Wainwright Bank; and Chief Operations Officer at Commonwealth National Bank, a de novo bank. She is a Board Member of Operation ABLE.
Timothy J. Lodge has over 23 years of experience in the insurance industry. He joined Eastern Insurance Group in 2013 and has taken on roles of increasing responsibility, including as Executive Vice President of Commercial Lines prior to his appointment as President and CEO of Eastern Insurance Group in January 2022. Mr. Lodge began his career as a Casualty Underwriter with Chubb Group of Insurance Companies, and he later spent 12 years at Aon Risk Solutions where he held a variety of roles including as Senior Vice President. He is experienced with risk identification, risk mitigation and risk transfer strategies. Mr. Lodge is a Board Member of Junior Achievement and the Insurance Industry Charitable Foundation. He holds a Certified Insurance Counselor (CIC) designation, is a member of the Society of Certified Insurance Counselors and has been active in several other industry organizations.
Matthew A. Osborne is responsible for Eastern Bank’s Commercial Real Estate and Community Development Lending Divisions. Their services include investor commercial real estate, non-profit, higher education, affordable housing, and tax credit sponsored financing. Mr. Osborne joined Eastern Bank in 1998 after beginning his career with The Hibernia Savings Bank in Quincy, Massachusetts. He was promoted to Executive Vice President, Senior Commercial Banking Officer in 2019. He is actively engaged across the South Shore, and serves as a Board Member of both the Metro South Chamber of Commerce and the South Shore Hospital Charitable Foundation. He is a founding member of the Brockton Partnership, a group dedicated to furthering economic development in the City of Brockton.
Sujata Yadav joined Eastern as Senior Vice President, Consumer Lending Director in 2017. Under her leadership, Eastern has delivered many critical accomplishments including its first, fully integrated online platforms for Unsecured Lending and Home Equity. She later took on additional responsibility for Product Marketing and Analytics and has helped significantly improve Eastern’s product marketing and performance measurement capabilities. She was promoted to Executive Vice President and Chief Marketing Officer in 2021. Prior to Eastern, Ms. Yadav worked at Citibank N.A. for 14 years in both national and international leadership roles across the consumer bank where she consistently achieved growth and profitability through integrated omni-channel marketing, product development and portfolio optimization strategies. Ms. Yadav is a member of the Board of Directors for the United Way of Mass Bay and Merrimack Valley and also serves on the Board of Advisors for Winchester Hospital.
About Eastern Bank
Founded in 1818, Boston-based Eastern Bank has more than 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of December 31, 2021, Eastern Bank had approximately $24 billion in total assets. Eastern provides banking, investment and insurance products and services for consumers and businesses of all sizes, including through its Eastern Wealth Management division and its Eastern Insurance Group LLC subsidiary. Eastern takes pride in its outspoken advocacy and community support that includes $240 million in charitable giving since 1994. An inclusive company, Eastern employs approximately 2,100 deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook, LinkedIn, Twitter and Instagram. Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC) is the stock holding company for Eastern Bank. For investor information, visit investor.easternbank.com.
What appointments were made to Eastern Bank's Management Committee?
Eastern Bank appointed Gregory P. Buscone, Martha A. Dean, Timothy J. Lodge, Matthew A. Osborne, and Sujata Yadav to its Management Committee.
What is the significance of the diversity in Eastern Bank's Management Committee?
The Management Committee has 64% representation from women, people of color, or individuals younger than 50, reflecting Eastern Bank's commitment to diversity.
How many locations does Eastern Bank have?
Eastern Bank operates over 120 locations in eastern Massachusetts, southern New Hampshire, and Rhode Island.
What are the total assets of Eastern Bank as of December 31, 2021?
As of December 31, 2021, Eastern Bank had approximately $24 billion in total assets.
Who is the CEO of Eastern Bank?
Bob Rivers is the CEO and Chair of the Board of Eastern Bank.
