What’s next for community banks?
“Revolution” is the watchword for community banks today, with stock sales adding to the flurry of merger-and-acquisition activity that has consolidated the industry in recent years. In this issue, we assess how the banking landscape in MetroWest may continue to change in the near future. On Page 16, Livia Gershon captures community bankers’ sentiments on the prospect of going public.
Meanwhile, in our regular What It Takes section on Page 26, Marlborough Savings Bank President and CEO Rick Bennett, an industry veteran, discusses how likely his bank could be involved in a merger. And for businesses in need of cash, especially those with an innovation bent, grants finance a host of commercialization efforts that private investors often don’t have an appetite for. Find out where the money comes — and who qualifies — in our story on Page 20.
Examining the ‘soft-skills gap,’ real estate prospects
The quest for fresh talent is one that can perplex. Just as new college graduates struggle to land that first job, employers face the equally challenging task of hiring the right people. While young employees bring with them the technical savvy to help businesses keep pace in today’s digitally-driven business environment, employers complain that expertise can lead to potentially costly workplace gaffes. In our cover story, we explore how MetroWest business leaders are addressing a so-called “soft-skills gap,” driven largely by digital communication.
Large real estate transactions in MetroWest and along the Interstate 495 corridor continued to make headlines through the summer, bringing with them the promise of a new and improved supply of commercial office space. On Page 18, Scott Van Voorhis examines some notable deals and explains how they’ll be revamped by investors to attract new tenants. Adding to that is our Real Angle columnist, David Ferris, who explains the value that outside investors have found lately in the MetroWest/495 region. Read about it on Page 11.
Regularly featured content
As always, we provide a snapshot of recent notable business events, including The Warren Group’s October Bank Summit in Boxborough, and the Middlesex West Chamber of Commerce’s Professional Women’s Networking Luncheon in Westford, in our Out & About photo section on Page 8. There, you’ll also find a list of important upcoming business networking events. Our list of top MetroWest-area banks will provide context for the banking-focused features. Also, make sure you’re up to speed on the latest notable business developments in our roundup of recent news on Page 5.
After seven years in the journalism industry, the October issue of MetroWest495 Biz marks my first endeavor as an editor. I’m honored to lead business coverage in MetroWest, a vital region of the Massachusetts economy which I’m proud to call home. n
Emily Micucci,
Editor
WBJ Web Partners
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