Avidia Bank CEO to retire after 35 years
Photo | Courtesy Avidia Bank
Avidia CEO Mark O'Connell
The Avidia Bank board of directors announced Tuesday that Mark O’Connell, the CEO of the bank, will retire in May of next year.
O’Connell had been an employee of Avidia Bank, then known as Hudson Savings Bank, since 1988, eventually working his way up to the CEO position in 2004. In 2007, he helped oversee the merger with Westborough Savings Bank to form the Hudson-based bank’s current incarnation. In that time, the total number of assets at Avidia has increased tenfold, going from $120 million to $2.3 billion, according to Avidia.
“I’m really proud of what we’ve all been able to accomplish at Avidia over the years,” said O’Connell in a statement. “It’s not just in our growth, but how we’ve been able to continue to be good citizens to help all members of our communities.”
A certified public accountant, O’Connell is a graduate of Salem State University and will soon assume the role of chairman of the Massachusetts Bankers Association, as he is currently serving as vice-chairman. He also played a role in creating Avidia Bank Charitable Foundation, which claims more than $4.5 million in donations since 1997.
Avidia’s board of directors said it has begun the search for O’Connell’s successor as CEO.
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