- Raichelle Kallery promoted to president and CEO of The Savings Bank
- First female CEO in the bank’s 155-year history
What happened: Raichelle Kallery named CEO of The Savings Bank
The Savings Bank, based in Wakefield, Massachusetts, has appointed Raichelle Kallery as its new president and CEO, effective January 2025. Kallery takes over the role from Robert DiBella, who retired after a 37-year tenure. Kallery has been with the bank since 2006, serving as its executive vice president and chief operating officer (COO) before her promotion.
In her new role, Kallery is expected to focus on advancing the bank’s digital capabilities and expanding its service offerings. One of the key initiatives she’s led thus far includes TSB Business Direct, a fully automated lending platform that simplifies the borrowing process for small businesses.
This platform is seen as a step toward enhancing customer experience and operational efficiency, both of which are priorities for Kallery moving forward.
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Why it’s important
Raichelle Kallery’s appointment marks a significant milestone for The Savings Bank as she becomes the institution’s first female president and CEO in its long history. The move highlights the ongoing trend of gender diversity in leadership roles within the banking sector, and Kallery’s experience positions her well to steer the bank through its next phase of growth.
The Savings Bank is one of the oldest community banks in the U.S., founded in 1869. Under Kallery’s leadership, the bank is expected to continue its tradition of community service while embracing digital innovation.
This shift towards digital services, particularly in the small business lending space, reflects the broader banking industry’s push to cater
