Belmont Savings Bank Appoints Robert M.
Mahoney as President and Chief Executive Officer
W. Ronald Rossi retires after 40 years in community banking
May 13, 2010 06:03 AM Eastern Daylight Time
BELMONT, Mass.--(EON: Enhanced Online News)--Belmont Savings Bank today announced that Robert M.
Mahoney has been appointed President and Chief Executive Officer (CEO). Mahoney, a veteran of the
Massachusetts banking industry with more than 30 years of community banking experience, replaces Mr. W. Ronald
Rossi, who is retiring after 17 years as the Bank's President and CEO.
Mr. Mahoney formerly served as Executive Vice Chairman of Citizens Financial Group where he was responsible
for commercial and New England banking, including oversight of Citizens’ state banks in Massachusetts, New
Hampshire, Rhode Island, Vermont, and Connecticut. Mr. Mahoney joined Citizens in 1993 as President and CEO
of Citizens Bank of Massachusetts after serving 22 years in various domestic and international commercial and retail
banking positions with Bank of Boston. During his seven years as President of Citizens Bank of Massachusetts, Mr.
Mahoney led the new bank through significant expansion, growing it from $500 million to a $10 billion financial
services institution with more than 100 branches and 1,200 employees.
“Belmont Savings is extremely fortunate to attract a CEO with Bob Mahoney’s experience and respect throughout
our region,” said Robert J. Morrissey, Chairman of the Board of Trustees. “Everybody in Boston’s business
community knows Bob as a true civic leader and a genuine banking partner for all his customers. The fact that he
shared our Board’s vision for continued growth in the spirit of true community banking makes him the ideal leader for
Belmont Savings’ future.”
Aside from his banking experience, Mr. Mahoney holds several community leadership positions in Massachusetts.
He serves on the Board of the University of Massachusetts Amherst Foundation, is a member of the Archdiocese of