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December 9, 2013 2013 Power Player

David ‘Duddie’ Massad: Chairman, Commerce Bank & Trust, Worcester

Massad

Duddie earns power and influence the old-fashioned way: He buys it.

David Massad Jr. has come a long way since his bootstraps upbringing on Worcester's East Side. This year, his Commerce Bank & Trust, the second-largest bank based in Central Massachusetts, continued to grow its assets, buying Boston-based Mercantile Capital and its subsidiary, Mercantile Bank & Trust, for $26.5 million.

The deal gave Commerce a physical presence in Boston. It now has combined assets of $1.6 billion, with 16 retail banking offices serving people and businesses across the central and eastern parts of the state, including three offices in the Boston metro area.

Not bad for a guy who, in his teens, was a barker at the old White City Amusement Park in Shrewsbury, and who continued to scrape his way up from the economic bottom, operating the old Webster Square Cinema (with renowned '60s activist and Worcester native Abbie Hoffman as his manager). Duddie made his mark with car dealerships Duddie Ford in Westborough and Diamond Chevrolet in Worcester, now in Auburn. He's also one of the region's largest commercial property owners.

IN THE COMMUNITY
In 2005, he donated $12.5 million for a new medical facility at UMass Memorial Medical Center's Lake Avenue campus in Worcester, whose emergency room and trauma center bear his name. Another big donation renovated Foley Stadium, which also includes Commerce Bank Park as part of its moniker.

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