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Ethic has named William Buccella, a former executive with Wilmington Trust Co., as its next president and CEO.
Buccella’s appointment was effective Jan. 26, the bank said in a statement today. He was also named to the board of directors for the bank, which also goes by EWB for “Ethic, a Wealth Bank,” and for its holding company.
Formerly known as Admiral’s Bank, the Boston-based EWB rebranded in January 2020. EWB’s first CEO when it rebranded, Marc A. White Jr., left Ethic in March 2021, according to his LinkedIn profile, and joined Brookline Bancorp in May 2021 to lead its recently launched wealth management company, Clarendon Private.
EWB focuses on high-net-worth private banking.
“I am very excited to be joining the EWB team,” Buccella said in the statement. “With a 10-year history of boutique private banking excellence, the Bank is uniquely positioned to capitalize on the dramatic rise in registered investment advisors and independent broker-dealers by partnering with them to deliver a full banking solution.”
Buccella was most recently president of U.S. markets at Wilmington Trust Co., where he led the company’s presence in nine markets along the East Coast, the statement said. He has also held executive level positions at several other financial institutions.
Buccella will lead EWB’s management team in expanding the bank’s high-touch service model for providing banking and lending to New England’s mass affluent and high-net-worth residents, the statement said. The lending products are designed to address clients’ capital needs, including residential and commercial loans. Later this year, the bank will add securities-backed lending and other new products, the statement said.
“Private banking – in the true sense – among mass affluent and high-net-worth individuals is in high demand,” Buccella said. “By positioning ourselves as partners to their advisors, we can seize upon the many opportunities to broaden relationships.”
Buccella is a member of the advisory boards of the Institute of Contemporary Art and the Museum of Fine Arts, as well as a member of the board of directors of the Franklin Performing Arts Company.
“Bill’s experience and success in this industry bring important perspective and insights to our already strong senior leadership team,” Jack Thompson, EWB’s board chairman, said in the statement. “As we continue to hone our products and services to address the needs of our clients and their advisors, Bill’s vision will be instrumental in expanding EWB’s position as a Boston-based, boutique private bank.”
EWB had $234 million in total assets as of Dec. 31 and two offices in Boston and Providence.
