Joe Campanelli to Join Needham Bank as CEO
NEEDHAM, MA---Jack McGeorge, Chairman of the Board of Directors of Needham Bank, announced today that Joseph P. Campanelli will be joining the Bank on January 3, 2017 as Chief Executive Officer succeeding Mark Whalen who announced his retirement earlier this year.
Campanelli brings a wealth of industry knowledge and industry experience to the Needham Bank Team. He began his banking career at Hartford National Bank and progressed to positions of increased responsibility through its successor banks until leaving Fleet Bank to join Sovereign Bank in 1997, progressing to become CEO and Director. He also served as Chairman, CEO, and Director of Flagstar Bank from 2009-2012.
A Wellesley resident, he serves as Chairman and Trustee of Tufts Medical Center and as Trustee of the Boys and Girls Club of Boston. He is the former Chairman and a current Trustee of the Massachusetts Business Roundtable, Advisory Board Member of First Help Financial, former Trustee of Babson College and of Suffield Academy, and former Executive Committee Member of the Greater Boston Chamber of Commerce. Campanelli graduated from Babson College earning a BSBA with High Distinctions and from Suffolk University where he was awarded an Honorary Doctorate of Commerce.
“When Mark Whalen announced his retirement, we undertook an exhaustive national executive search for his replacement and met many highly qualified individuals from all over the country. Joe distinguished himself based upon his impressive banking career, community involvement, in-market knowledge, and personality match with our culture. As we approach our 125th anniversary, this is an even more significant leadership change. We welcome him to the Needham Bank family and look forward to him joining our team in January” commented McGeorge. “I also want to acknowledge the many contributions made by Mark Whalen during his distinguished career with us.”
Mark Whalen, current Needham Bank CEO, will work with Campanelli on the transition and continue on Needham Bank’s Board of Directors. “As I reflect upon my 35 year banking career, I am most proud to have spent that time as a community banker. Serving the community is a noble undertaking and one in which I have had great pride each and every day. I’m looking forward to getting to know Joe even better and working with him as we transition our roles and responsibilities.”
“As a Wellesley resident I’ve seen first-hand how committed Needham Bank is to my town and all of the communities it serves. They have an excellent management team and their reputation is second to none. I’m delighted to have this opportunity and look forward to getting to work with them on January 3rd” offered Campanelli.
Needham Bank is a $1.9 billion mutual bank with nine offices serving MetroWest.