Rockland Belief Firm and its financial institution holding firm mother or father Unbiased Financial institution Corp. (NASDAQ World Choose Market: INDB) right now introduced the appointment of Jeffrey J. Tengel because the successor to present Chief Govt Officer, Christopher Oddleifson, efficient on or about February 6, 2023.
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Jeffrey J. Tengel (Photograph: Enterprise Wire)
Oddleifson has served because the Financial institution’s CEO since 2003. Underneath his management, Rockland Belief has grown whole property from simply over $2 billion to almost $20 billion and expanded from its southeastern Massachusetts roots to a financial institution with over 120 retail branches, business and residential lending facilities, and funding administration workplaces.
“What an honor it has been to function Rockland Belief’s CEO,” stated Oddleifson. “After main Rockland Belief for over twenty years, I’ve determined that the time has come to cross the baton. I’m thrilled that our Board of Administrators has chosen a successor with the caliber of Jeff Tengel to information Rockland Belief into the long run.”
The appointment of Tengel is the end result of a considerate, thorough CEO succession planning course of that concerned a nationwide search. A particular committee of the Board, comprised of impartial administrators, oversaw CEO succession planning, assisted by a preeminent management consulting agency. Following Tengel’s formal appointment as CEO, Oddleifson will stay with Rockland Belief in an government advisory position till the top of 2023.
“On behalf of the Board of Administrators, I thank Chris Oddleifson for establishing constant, disciplined, excellent efficiency over the past 20 years,” stated Donna L. Abelli, Chair of each the Unbiased and Rockland Belief Boards. “Our strategic course is unchanged, and we’re assured that Jeff Tengel will leverage his sturdy business banking expertise and people-first management model to keep up Rockland Belief’s best-in-class tradition and construct on the group’s strong basis.”
Tengel most not too long ago served as Senior Govt Vice President, Head of Business Specialty Banking at M&T Financial institution. Previous to M&T’s current acquisition of Individuals’s United Monetary, Tengel was President of Individuals’s United the place he was liable for business banking, retail banking, and wealth administration. He joined Individuals’s United in 2010 from PNC Financial institution the place he labored following PNC’s acquisition of Nationwide Metropolis Financial institution. At Nationwide Metropolis, Tengel served as Govt Vice President of Company Banking, managing the specialised trade, capital markets, business actual property, tools finance, and personal fairness enterprise strains.
Tengel acquired his Bachelor of Science diploma in accounting from Marquette College and his M.B.A. from the Weatherhead College of Administration at Case Western Reserve College.He presently serves on the Board of Trustees of Quinnipiac College.
“I’m grateful for the chance the Board has granted me to hitch an impressive group so deeply rooted within the communities it serves,” stated Tengel. “I stay up for constructing robust, enduring relationships with Rockland Belief’s loyal clients and devoted colleagues. I’m steadfastly dedicated to sustaining the award-winning tradition and customer support fostered throughout Chris Oddleifson’s long-term stewardship. I’ll draw upon my expertise to steer Rockland Belief to a tomorrow stuffed with innovation, alternative, sustainable disciplined progress, and objective.”
Unbiased has appointed Tengel as a Class I Director, efficient as of his appointment as CEO. Rockland Belief additionally concurrently appointed Tengel to its Board of Administrators, efficient as of his appointment as CEO.
Oddleifson will proceed to function a Class III Director of Unbiased and as a Rockland Belief Director. Oddleifson doesn’t intend to face for reelection as a director when his present phrases expire in 2023.
About INDB/Rockland Belief
Unbiased Financial institution Corp. (NASDAQ World Choose Market: INDB) is the holding firm for Rockland Belief Firm, a full-service business financial institution headquartered in Massachusetts. Rockland Belief was named to The Boston Globe’s “High Locations to Work” 2022 record, an honor earned for the 14th consecutive yr. *In 2022, Rockland Belief was ranked #1 in Buyer Satisfaction with Retail Banking in New England. Rockland Belief has a longstanding dedication to fairness and inclusion. This dedication is underscored by initiatives resembling Variety and Inclusion management coaching, a colleague Allyship mentoring program, and quite a few Worker Useful resource Teams centered on offering colleague assist and training, reinforcing a tradition of mutual respect and advancing skilled growth, and Rockland Belief’s sponsorship of various neighborhood organizations via charitable giving and employee-based volunteerism. As well as, Rockland Belief is deeply dedicated to the communities it serves, as mirrored within the general “Excellent” score in its most up-to-date Neighborhood Reinvestment Act efficiency analysis. Rockland Belief provides a variety of banking, funding, and insurance coverage providers. The Financial institution serves companies and people via over 120 retail branches, business and residential lending facilities, and funding administration workplaces in jap Massachusetts, together with Larger Boston, South Shore, North Shore, Cape Cod and Islands, Worcester County, and Rhode Island. Rockland Belief additionally provides a full suite of cellular, on-line, and phone banking providers. Rockland Belief is an FDIC member and an Equal Housing Lender. To seek out out why Rockland Belief is the Financial institution The place Every Relationship Issues®, please go to RocklandTrust.com.
*Rockland Belief acquired the very best rating in a tie within the New England Area of the J.D. Energy 2022 U.S. Retail Banking Satisfaction Examine of consumers’ satisfaction with their main financial institution. Go to jdpower.compercent2Fawards for extra particulars.
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