Boston-based Berkshire Bank has hired David Rosato, previously with People’s United Bank, as its next chief financial officer.
Rosato, the bank’s third chief financial officer in less than two years, replaces Subhadeep Basu, who resigned from his role in October. Rosato will join Berkshire on Feb. 6 as senior executive vice president and CFO.
“We’re pleased to welcome Mr. Rosato to the Berkshire team as Chief Financial Officer,” Berkshire CEO Nitin Mhatre said in a statement. “He’s a well-respected seasoned executive leader with exceptional business and financial acumen that will further bolster and accelerate Berkshire’s Exciting Strategic Transformation (BEST) program.”
Rosato has 35 years of experience at regional financial institutions, the bank said in the statement. He spent 15 years at Connecticut-based People’s United, including eight years as CFO, before the bank was acquired by Buffalo-based M&T Bank in April 2022. Before joining People’s United, Rosato worked at Webster Bank, including as its treasurer, and at M&T Bank.
“Mr. Rosato’s proven track record of successfully driving profitable growth while creating long-term, sustainable value for shareholders combined with Berkshire’s differentiated brand positioning and purpose-driven offerings will further support us on our journey towards becoming a high-performing, leading socially responsible community bank,” Mhatre said.
Rosato is a past board member of the Federal Home Loan Bank of Boston and is currently a NASDAQ Stock Market board member.
“I’m honored to join Berkshire and work alongside its talented employees to create long-term shareholder value and deliver profitable growth,” Rosato said. “Few institutions have such a long and respected history as Berkshire does helping their employees, customers, shareholders and communities reach their full potential. I look forward to collaborating with the entire team to create a best in class, leading socially responsible community bank.”
Brett Brbovic has been Berkshire’s acting CFO since Basu’s departure. Mhatre said Brbovic would continue in his role as chief accounting officer, a position he has held since 2015.
Also recently joining Berkshire Bank is James “Jim” Brown, the new head of commercial banking and senior executive vice president, the bank said in a separate statement earlier this month. Brown replaced George Bacigalupo, who has transitioned to a new role as director of commercial/enterprise sales management and will retire from the bank at the end of 2023. Brown spent more than 20 years at Boston Private, including as a co-president and head of commercial banking and credit administration, as well as chief lending officer.
Philip Jurgeleit has also joined Berkshire Bank as executive vice president and chief credit officer, replacing Georgia Melas, who recently retired. Jurgeleit was previously senior vice president and senior director of credit risk at Santander Bank.
