Exchange Authority names tax law expert as new president & CEO
Photo | Courtesy of Exchange Authority
Exchange Authority President & CEO Al Caporale
Exchange Authority, Worcester-based subsidiary of Fidelity Bank of Leominster announced Albino Caporale would be the company’s new president & CEO.
Caporale replaces John Peculis who joined Exchange Authority in Jan. 2021 and left in Oct. 2022 to become the chief lending officer at Clinton Savings Bank, according to his LinkedIn page.
Caporale most recently worked as executive director of CATIC Exchange in Hartford, which also specializes in 1031 exchanges, according to a press release from Exchange Authority.
“Al’s years of experience and knowledge in the legal, real estate and Exchange industries will bring confidence to our clients, especially during volatile times like these,” said Fidelity Bank Chairman & CEO Ed Manzi, Jr. “His positive attitude and caring demeanor align perfectly with our culture of clarity, confidence and care in providing our clients reassurance as they navigate 1031 exchanges.”
Caporale graduated from the University of Connecticut with a bachelor’s degree in English literature and earned a Juris Doctorate from Quinnipiac University School of Law in North Haven, Connecticut with a concentration in taxation.
Exchange Authority specializes in Section 1031 exchanges, which is a way to defer capital gains taxes on the sale of real estate when using the funds to invest in another property.
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