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March 1, 2024

Fidelity Bank names CPA as its newest CFO

A man in a suit Image | Courtesy of Fidelity Bank Richard Fay, senior vice president and CFO for Leominster-based Fidelity Bank

Following a 17-year career at a national certified public accountant and advisory firm, Richard Fay has been named as senior vice president and CFO for Leominster-based Fidelity Bank.

Fay, who joined Fidelity as its senior vice president, director of accounting and finance in August, will be tasked with identifying strategic opportunities, implementing operational efficiencies, and ensuring regulatory compliance, according to a press release issued by the bank on Thursday.

“During his time with Fidelity Bank, Richard has delivered a unique banking perspective for our team due to this many years in the field,” Ed Manzi, chairman and CEO of Fidelity Bank, said in the press release. “He is committed to ensuring our teams work well together, maintaining our professional standards, and abiding by our LifeDesign promise of providing care, clarity, and confidence in all that we do.”

Fay earned his master’s degree in accounting from Northeastern University in Boston and his bachelor’s degree in business administration from Bryant University in Smithfield, Rhode Island. 

Fay is a certified public accountant, having served as principal for Boston-based CPA firm Wolf & Co.. from October 2019 until August 2023, when he joined Fidelity. 

Fay replaces Nancy Coyle in this role. Coyle has since moved on to the role of CFO for StonehamBank, according to her LinkedIn profile.

Founded in 1888, Fidelity has 13 banking centers across Central and Eastern Massachusetts. The bank had total assets of $1.5 billion in December, according to the release. In September, Fidelity made public its intentions to merge parent companies with Hyannis-based Cape Cod 5 bank, to create a $7-billion organization.

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