BOSTON, March 18, 2021 /PRNewswire/ -- Berkshire
Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire
Bank, announced today that Subhadeep
Basu was appointed Senior Executive Vice President, Chief
Financial Officer of the Company and the Bank. Mr. Basu will
succeed James M. Moses, who has
chosen to leave the company as of March
19th to pursue other interests.
In his role as Senior Executive Vice President and Chief
Financial Officer, Mr. Basu will serve as the company's top
financial officer. He will work closely with Senior
Management to meet the organization's short-term and long-term
objectives, regulatory requirements and evaluate current and future
operating performance to enhance shareholder value, maintain and
improve financial flexibility, and enhance Berkshire's overall financial position.
"Subhadeep is a dynamic leader with extensive experience at
global financial institutions, enabling change and driving growth
across complex organizations and environments," stated Nitin Mhatre, CEO of Berkshire Hills Bancorp and
Berkshire Bank. "He brings Berkshire a diverse set of leadership skills
and a proven track record of improving revenue and
profitability through a customer-centric approach, focusing on
transformation, operating model realignment and adoption of
emerging technologies and digitization. His extensive experience
and leadership will be instrumental in the execution of our
transformational strategic plan to enhance value for all
stakeholders."
Mr. Basu is a senior executive with more than 20 years of global
banking, financial and risk management expertise leading
transformation and growth. Prior to joining Berkshire, Mr. Basu served as Senior Vice
President of Global Institutional Services at State Street. He led
key strategic initiatives that helped drive business and revenue
growth and enhanced client retention. He previously served as
Senior Vice President of Finance, leading global regulatory
reporting, capital strategy and optimization and finance and risk
infrastructure. Before joining State Street, he spent more than 15
years at Citigroup, Bank of America, and Ally Financial in various
leadership roles across Finance, Treasury, Risk, and Consumer and
Commercial Banking. Mr. Basu serves as a board member and Treasurer
for The Arc of Massachusetts based
in Waltham, MA.
ABOUT BERKSHIRE HILLS
BANCORP
Berkshire Hills Bancorp is the parent
of Berkshire Bank, a community bank committed to purpose
driven performance based on its Be FIRST corporate responsibility
culture. Headquartered in Boston, Berkshire operates 124 banking offices in
seven Northeastern states, with approximately $12.8 billion in assets.
FORWARD-LOOKING STATEMENTS
This document contains
"forward-looking statements" within the meaning of section 27A of
the Securities Act of 1933, as amended, and section 21E of the
Securities Exchange Act of 1934, as amended. You can identify these
statements from the use of the words "may," "will," "should,"
"could," "would," "plan," "potential," "estimate," "project,"
"believe," "intend," "anticipate," "expect," "target" and similar
expressions. There are many factors that could cause actual results
to differ significantly from expectations described in the
forward-looking statements. For a discussion of such factors,
please see Berkshire's most recent
reports on Forms 10-K and 10-Q filed with the Securities and
Exchange Commission and available on the SEC's website
at www.sec.gov.
Further, given its ongoing and dynamic nature, it is difficult
to predict what continued effects the novel coronavirus (COVID-19)
pandemic will have on our business and results of operations. The
pandemic and the related local and national economic disruption may
result in a continued decline in demand for our products and
services; increased levels of loan delinquencies, problem assets
and foreclosures; an increase in our allowance for loan losses; a
decline in the value of loan collateral, including real estate; a
greater decline in the yield on our interest-earning assets than
the decline in the cost of our interest-bearing liabilities; and
increased cybersecurity risks, as employees increasingly work
remotely. Accordingly, you should not place undue reliance on
forward-looking statements, which reflect our expectations only as
of the date of this document. Berkshire does not undertake any obligation to
update forward-looking statements.
Investor Relations
Contact:
|
Media
Contacts:
|
Kevin Conn, SVP,
Investor Relations &
Corporate Development
Email: KAConn2@berkshirebank.com
Tel: (617)
610-2391
|
John
Lovallo
Email: jlovallo@levick.com
Tel: (917)
612-8419
Cate
Cronin
Email: ccronin@levick.com
Tel: (202)
738-7302
|
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SOURCE Berkshire Hills Bancorp, Inc.