When Berkshire Bank’s longtime President and CEO Michael Daly abruptly left the bank at the end of November, a storm of questions followed from the media, analysts and other stakeholders. But the departure also put an acquisition that Berkshire had been close to announcing at the time in flux.
A new research report from Piper Jaffray suggests that the recent departure of Berkshire Bank CEO Michael Daly might have been related to a “toxic” work culture.
Michael Daly, president and CEO of Berkshire Bank and its parent company, is stepping down from his position and leaving the company immediately, the bank said in a statement last night.
Berkshire Hills Bancorp boosted its third quarter net income 11.4 percent year-over-year, as it beefed up compliance and risk staff in preparation to cross the $10 billion asset threshold.
