Cambridge Trust

Last year, Marc White, Mark Thompson and John Sullivan were all part of a group of bankers planning to buy up a large portion of assets from Admirals Bank and spin off into a new bank targeting millennials, young entrepreneurs and nonprofits.

Fast forward to today after the deal fell apart and two of those three have now found a home at at the roughly $1.96 billion asset Cambridge Trust, where they are focused on building up the institution’s private banking portfolio.

The bank announced yesterday that it has hired Sullivan as senior vice president and director of personal lending. The decision comes about 10 months after Cambridge Trust hired Thompson as president and director of the bank to oversee the company’s private banking activities including wealth management, consumer banking and marketing. White, on the other hand, ended up becoming CEO at Admirals Bank to help the institution rebound from its prior woes.

In the same announcement yesterday, Cambridge Trust also announced the hire of Kerri A. Mooney, the former director of branches at HarborOne Bank, as senior vice president and director of private banking offices.

“Cambridge Trust has been making strategic hires in support of its expanded private banking and wealth management offering. By appointing John Sullivan to lead personal lending and Kerri Mooney to head private banking offices, we are bringing in leaders with decades of experience who can provide superior, integrated banking and wealth management solutions for our clients,” Thompson said in a statement. “John’s reputation in the mortgage industry and as a business-builder across banking services will provide important support as we seek to build new relationships and deepen existing ones, and Kerri’s experience in building successful banking teams and developing best-in-class client experiences will be essential as we continue to grow as a private bank.”

 

Cambridge Trust Adds Two More to Private Banking Group

by Bram Berkowitz time to read: 1 min
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