Swansea-based BayCoast Bank has named a senior executive to the newly-created post of chief diversity officer as it looks to embed diversity, equity and inclusion efforts in its recruitment practices, workplaces and “social responsibility” initiatives.

The bank announced recently that it has named Senior Vice President Nicole Alameida to the role. Prior to her appointment, Alameida was the $2.17 billion-asset bank’s chief marketing officer but before that she was the director of of resource development and retention for SMILES Mentoring, Inc., a nonprofit that provides mentors for at-risk youth in the Greater New Bedford and Fall River school communities.

“Establishing the chief diversity officer role at BayCoast is an important next step in our continued efforts to cultivate diversity, equity and inclusion within the organization, all of which enhances our ability to deliver on our mission of providing exceptional service and solutions to the communities we serve.” BayCoast Bank President and CEO Nicholas Christ said in a statement. “Nicole is the ideal member of the senior management team to lead us in those efforts. She is a proven results-driven professional with the intelligence and vision needed to act as a change agent. The entire staff extends its congratulations to Nicole.”

Alameida will be responsible for shaping the internal diversity, equity and inclusion strategy at the bank and its affiliates like BayCoast Mortgage Co., as well as building relationships with key leaders, communities and organizations to “create awareness and advocacy in a manner that is authentic to BayCoast Bank,” the lender said in its announcement. BayCoast Mortgage Co. and BayCoast Bank originated 0.53 percent of all residential mortgages in Massachusetts in 2020, or roughly $158 million purchase and $503 million refinance loans according to The Warren Group, publisher of Banker & Tradesman.

The move is one of the latest in a series of steps by lenders to examine and beef up their DEI activities, with some like Berkshire Bank and Eastern Bank going so far as to build their brand in substantial part on actives aimed at helping address issues like the racial wealth gap or the tough financing environment faced by many small, minority-owned businesses.

BayCoast Bank Creates Chief Diversity Officer Post

by Banker & Tradesman time to read: 1 min
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