Berkshire Bank has hired a new chief financial officer less than two weeks after Jamie Moses submitted his resignation.

Subhadeep Basu, a former vice president at State Street Corp., is Berkshire Bank’s new CFO and senior executive vice president, Berkshire said in a statement yesterday. Basu’s hiring is effective today, which is also Moses’ last day with Berkshire Bank.

The bank announced in an SEC filing a week ago that Moses had submitted his resignation on March 9. The filing said Moses had agreed to assist in transitioning his duties.

Moses had a role in the controversy involving one of Berkshire Bank’s shareholders, New York-based HoldCo Asset Management. HoldCo had sent a letter in February to Berkshire’s board chairman, questioning the bank’s decision to hire a new CEO instead of pursuing other alternatives, including a sale. In its letter, HoldCo cited comments Moses had made about Berkshire Bank at an industry conference.

St. Louis-based First Bank announced this week that it had hired Moses as its new CFO.

Basu has more than 20 years of experience in global banking, financial and risk management, Berkshire said in its statement. Before joining Berkshire, he was the founder and managing partner of Boston-based Miyadii Consulting, a firm providing program management services to its clients. He was at State Street for six years, according to his LinkedIn profile, most recently as senior vice president of global institutional services. He also spent more than 15 years at Citigroup, Bank of America, and Ally Financial in leadership roles across finance, treasury, risk, and consumer and commercial banking.

Basu’s annual base salary will be $430,000.

“Subhadeep is a dynamic leader with extensive experience at global financial institutions, enabling change and driving growth across complex organizations and environments,” Nitin Mhatre, CEO of Berkshire Hills Bancorp and Berkshire Bank, said in the statement. “He brings Berkshire a diverse set of leadership skills and a proven track record of improving revenue and profitability through a customer-centric approach, focusing on transformation, operating model realignment and adoption of emerging technologies and digitization. His extensive experience and leadership will be instrumental in the execution of our transformational strategic plan to enhance value for all stakeholders.”

Berkshire Bank Hires New CFO

by Diane McLaughlin time to read: 1 min
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