Rockland Trust names new CEO
Photo | Courtesy of Rockland Trust
Jeffrey Tengel will be the new CEO of Rockland Trust.
Rockland Trust Co., which has 10 branches in Central Massachusetts, and its parent company Independent Bank Corp. appointed Jeffrey Tengel as the new CEO, replacing Christopher Oddleifson, who has been serving in the position for 2003.
“After leading Rockland Trust for over twenty years, I have decided that the time has come to pass the baton. I am thrilled that our board of directors has selected a successor with the caliber of Jeff Tengel to guide Rockland Trust into the future,” said Oddleifson in a Monday press release.
Tengel most recently served as senior executive vice president, head of commercial specialty banking at Buffalo’s M&T Bank. Prior to M&T’s recent acquisition of People’s United Financial of Bridgeport, Connecticut, Tengel was president of People’s United.
The transition will take place on or around Feb. 6, according to the press release.
Oddleifson will remain with Rockland Trust in an advisory role until the end of 2023 and will continue to serve as a director of Independent and as a Rockland Trust director. He will not seek reelection when his terms expire in 2023.
Rockland Trust is based in Rockland and has 10 Central Massachusetts offices. Rockland is the 13th largest bank in Central Massachusetts, as ranked by deposits as of June 30, 2021, according to the WBJ Research Department.
The bank has $19.7 billion in assets as of Sept. 30. The parent company trades on the NASDAQ Global Select Market, with a market cap of $3.6 billion as of Tuesday morning.
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