In tandem with closing on its acquisition of Blue Hills Bank, the parent company of Rockland Trust is also making some changes to its corporate structure.

The company said yesterday that Robert Cozzone will become executive vice president and COO of Rockland Trust and its parent company, Independent Bank Corp., effective immediately. Mark Ruggiero will become CFO, senior vice president and principal accounting officer of Rockland Trust and Independent.

Cozzone has worked at Rockland Trust for 21 years and previously served as the CFO of Independent and Rockland Trust, executive vice president of consumer and business banking for Rockland Trust and as the treasurer of Independent and Rockland Trust.

Ruggiero has worked at Rockland Trust for 10 years and has been the controller and principal accounting officer of Independent and Rockland Trust for the past six years. Ruggiero is a CPA who worked for Vitale, Caturano and Co. (now McGladrey LLP) prior to joining Rockland Trust.

With the closing of the acquisition, both Independent and Rockland Trust increased the size of their board of directors from 12 members to 15 members and appointed former Blue Hills Bank employees and board members William M. Parent, David A. Powers and Scott K. Smith to both boards.

As non-employee directors of Independent, Parent, Powers and Smith will participate in equity awards pursuant to Independent’s 2018 non-employee director stock plan, and receive cash compensation in the form of an annual retainer and meeting fees, on the same terms and conditions as other non-employee directors.

Rockland Trust Executives Shuffled Amid Acquisition

by Banker & Tradesman time to read: 1 min
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