Michael Daly Steps Down as President, CEO of Berkshire Hills Bancorp
BOSTON — Michael Daly stepped down Monday as president, CEO, and director of Berkshire Hills Bancorp, Berkshire Bank’s holding company.
Berkshire Bank President Richard Marotta has been named CEO and president of the company and CEO of the bank. Sean Gray, chief operating officer of Berkshire Bank, will replace Marotta as bank president.
The move comes a year after the financial institution moved its headquarters from Pittsfield to Boston, and the purchase of Worcester-based Commerce Bank helped grow Berkshire to its current $12 billion in assets, making it the largest independent Massachusetts-based bank.
“I am extremely proud of the accomplishments that the employees of the company have achieved during my time as CEO,” Daly said in a statement. “When I began my tenure 16 years ago, Berkshire Bank was one of the smallest banks headquartered in Massachusetts with some 300 employees, and the company is now the largest with nearly 2,000 employees. I’ve built long-lasting relationships with many employees during this time who I will continue to view as my family.”
The bank did not give a reason for Daly’s departure. In a statement, William Ryan, chairman of the bank’s board, noted that “Mike’s commitment to the bank, our customers, and our communities has been instrumental in Berkshire’s success. We thank him for his focus on creating the strong franchise we have today.”