William Parent

Former Blue Hills Bank president and CEO William Parent has been named to lead Randolph-based Envision Bank. He will take over as president and CEO on April 1, when current leader James P. McDonough retires.

Parent was Blue Hills president and CEO from 2010 until it was acquired by Rockland Trust on April 1, 2019. He joined the boards of Rockland Trust and its holding company, Independent Bank Corp., and resigned from those boards two weeks ago.

“I am honored to succeed Jim McDonough as President and CEO of Randolph Bancorp and Envision Bank,” Parent said in a statement. “I have known Jim for many years and admire and respect his principled leadership and dedicated service to the communities that Envision Bank serves. Jim and his management team have created a strong foundation that has left Envision Bank primed for continued growth and profitability well into the future. I am excited about the opportunity to build on their success for the benefit of Randolph Bancorp’s shareholders and Envision Bank’s customers and community.”

Before joining Blue Hills Bank, Parent, 58, was a partner and chief investment officer at Grail Partners, a boutique merchant bank. He has over 30 years of experience in the financial services industry and held several senior executive roles at Bank of Boston and its successor companies, FleetBoston and Bank of America.

“I cannot think of a better successor than Bill Parent,” McDonough said in a statement. “Bill is an accomplished banker with a sterling reputation in the banking industry, and I eagerly anticipate what he and the Envision Bank team will accomplish together in the future.”

Parent will have an initial base salary of $400,000 per year, subject to periodic review and adjustment by the board of directors, according to an SEC 8-K report. Parent will also be eligible to receive an annual bonus based on criteria set by the board.

“We are delighted that Bill Parent, an experienced CEO with a proven track record of successfully growing a community bank franchise and enhancing shareholder value, has agreed to succeed Jim,” Kenneth Quigley Jr., chairman of the board of directors for Envision Bank and its holding company, Randolph Bancorp, said in the statement. “We are confident that Bill is the right person to ensure the continued success of Randolph Bancorp and Envision Bank.”

Quigley also thanked McDonough “for his transformative leadership over the past seven years.”

“During his tenure as President and CEO, Envision Bank has grown from approximately $380 million to approximately $635 million in assets, returned to profitability, made its first acquisition, completed its initial public offering, and established the Envision Bank Foundation which, in just over three years, has significantly impacted our community by funding projects focused on support of military veterans and their families, and education,” Quigley said in the statement. “Jim has also presided over the rebranding of Randolph Savings Bank as Envision Bank and helped to build the fastest growing mortgage operation by volume of any bank in Massachusetts.”

Also retiring on April 1 is Michael Devlin, the bank’s executive vice president and CFO. He will be succeeded by Lauren Messmore, the former Blue Hills Bank CFO. Messmore joined Blue Hills Bank in 2012 as the senior vice president of corporate strategy and was executive vice president and CFO from September 2017 until the acquisition on April 1, 2019.

“For the past seven years, I have been privileged to work with an outstanding team of banking professionals who have worked tirelessly to better serve our customers and community,” McDonough said in the statement. “Chief among this talented group is Mike Devlin who, over the past five years, has played an indispensable role in the company’s first acquisition, initial public offering, and transition to a public company and has been instrumental to the company’s success. Because of their efforts, Envision Bank is well positioned to continue its growth, profitability, and distinguished customer and community service.”

Envision Bank has about $644 million in total assets, five retail branch locations and several loan operations centers and production centers in Massachusetts and one loan production office in southern New Hampshire.