Webster Five promotes chief information officer to COO, as bank prepares for CEO retirement
Photo I Courtesy of Webster Five
Kate Gallo Megraw, Webster Five chief information officer and incoming chief operating officer
Webster Five will have a new chief operating officer, as the Auburn-based bank has promoted employee Kate Gallo Megraw, effective Monday.
The promotion is an expansion on Gallo Megraw’s current role as the bank’s inaugural chief information officer, a position she will continue to hold. Gallo Megraw will work to integrate the bank’s technology and operations, managing deposit and loan operations, business systems, information technology, and marketing and project management, according to a Thursday press release from Webster Five.
Gallo Megraw will succeed current Webster Five COO and CFO Brian Westerlind, who will step into his new positions as president and CEO of the bank when current President & CEO Don Doyle retires on July 1.
“Kate’s strategic vision and passion for innovation have been pivotal to Webster Five’s success,” Westerlind said in the release. “Her leadership has consistently enhanced our operational abilities, and I am confident she will continue to drive our organization forward in this new role.”
Gallo Megraw’s promotion at Webster Five marks her return to managing both positions, having held the same roles when previously working at New Valley Bank & Trust, headquartered in Springfield. In her previous capacities, she oversaw bank’s deposit operations, retail banking, information technology and systems, and marketing.
She earned her bachelor’s degree from Assumption University in Worcester and her master’s degree from Southern New Hampshire University, according to her LinkedIn profile.
“I am honored to take on this new role and continue driving operational excellence at Webster Five,” Gallo Megraw said in the release. “By strategically aligning technology with our business goals, we can enhance our customer experiences and fuel sustainable growth. I look forward to collaborating with our talented team to shape the future of community banking.”
With $917 million in local deposits, Webster Five is the 14th largest bank in Central Massachusetts when ranked by local deposits as of June 30, 2023, according to data compiled by WBJ’s Research Department.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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