2020 Power 50: Edward F. Manzi, Jr.

Edward F. Manzi, Jr., chairman & CEO of Fidelity Bank

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Edward F. Manzi, Jr.

Title: Chairman & CEO
Company: Fidelity Bank
Locations: Leominster & Worcester
Residence: Groton
Colleges: UMass Lowell & Bentley College

It’s an understatement to say Fidelity Bank has changed during Manzi’s 23-year tenure. When he started, Fidelity had $139 million in assets and five branches. Today it’s $1.2 billion in assets and 14 branches.

Chief executives typically last a fraction as long in one position as Manzi, and he’s done it while largely growing Fidelity organically. Only in the last few years has Fidelity made acquisitions in an industry rife with them, with Barre Savings Bank in 2016, Colonial Co-operative Bank in 2018 and Family Federal Savings Bank in 2019. It’s often about the numbers with banks, but under Manzi, Fidelity has made another big mark: in 2004, its employees created the nonprofit Shine Initiative, whose mission is to combat discrimination and destigmatize mental health conditions. Manzi is Shine’s founder and chairman, and he serves on boards for the Federal Home Loan Bank Boston, the Depositors Insurance Fund, and the Central Care Nurses Association.

What makes Central Mass. unique? The quality and integrity of the people. The great communication between government, private, education, and nonprofit organizations really shines across our region, particularly during a crisis like COVID-19. Strong local leadership from city officials and the chambers of commerce in Worcester, Fitchburg, Leominster, and Gardner helps companies invest in the marketplace with confidence.

Hanging onto a boat at a high rate of speed: I enjoy water skiing. I can't wait to pick it up once COVID-19 and weather circumstances are right.

Power 50: View the entire Power 50 Class of 2020