Cambridge Savings Bank Hires Michael Richardson as Vice President, Relationship Manager – Asset-Based Lending

Share

Share

CAMBRIDGE, Mass.–(BUSINESS WIRE)Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $6 billion in assets, today announced the appointment of Michael Richardson to the role of Vice President, Relationship Manager, on the Asset-Based Lending (ABL) team. Richardson will be responsible for managing several of the bank’s ABL relationships while leveraging his vast network to identify and close on new lending opportunities. Additionally, he will support the team in crafting custom solutions to assist businesses with financing needs to support growth, recapitalization, working capital, and/or an acquisition, merger, or buyout.

With a decade of experience in the local banking industry, Richardson has established strong connections in the New England ABL industry. Reporting directly to Keith Broyles, CSB’s SVP and head of Asset-Based Lending, his strategic thinking and relationship-building skills will elevate the ABL teams’ portfolio management and business development initiatives.

“It is an honor to join a historic, local institution that has continuously set the standard for high-quality banking in Massachusetts,” said Richardson. “Cambridge Savings Bank’s nearly 200 years of success is a testament to its clear commitment to the customer and their unique financing needs. I am eager to contribute to the bank’s ABL team and establish a foundation of trust, respect, and integrity with both existing and prospective customers.”

Prior to his current role, Richardson served as a Portfolio Manager, Asset-Based Lending at Eastern Bank for nearly six years. Earlier in his career, Richardson gained experience working in the ABL division for a number of well-known banking institutions, including Key Corporate Bank, First Niagara Bank, and TD Bank. During his career, Richardson has managed a variety of account sizes and has underwritten loans to commercial, industrial, retail, and wholesale companies. This background leaves him well-positioned to provide value to CSB’s business and strategic partners throughout the Northeast.

“At CSB, we apply a relationship-centric approach to everything that we do,” said Broyles. “To uphold this commitment, we are strategic and thoughtful when making hiring decisions for positions that require direct communication and collaboration with our customers. I’m confident that Michael’s diligence, passion, and professionalism will greatly benefit both our team at CSB and the clients whom we are privileged to serve. With his support, we will continue to delight our customers while growing our ABL presence throughout Massachusetts and beyond.”

Richardson joins the nearly four-year-old ABL team, working closely alongside a specialized group of lenders with 150 years of combined experience. With more than $440 million in commitments provided to 34 different entities since 2019, the team will continue to progress steadily through strategic recruitment efforts and remain focused on the unique needs of each individual customer.

The hiring of Richardson underscores the bank’s commitment to fostering an organizational culture that embraces diverse perspectives, pushes limits, and sparks transformative change in the pursuit of advancing financial well-being for its customers and the community. For those interested in learning more about CSB’s dynamic, people-first culture and open roles, please visit cambridgesavings.com/careers.

About Cambridge Savings Bank

Cambridge Savings Bank is a full-service banking institution with over $6 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business, and consumer customers. In 2022, CSB received an investment-grade rating from Kroll Bond Rating Agency reinforcing the bank’s position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender.

Image by: Business Wire

Share

Latest

Related Content

Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

Media Kit

    Data Protection

    The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

      Error: Contact form not found.

      The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

      COVID-19
      Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

      Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

      The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

      Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

      Request Nomination Pack

      Error: Contact form not found.