Welch joined UniBank as its CEO in 2019, after 15 years as the headmaster of St. John’s High School in Shrewsbury.
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UniBank CEO Michael Welch is stepping down from his role in June, as the Whitinsville-based bank has begun the search for his replacement.
Welch joined UniBank as its CEO in 2019, after 15 years as the headmaster of St. John’s High School in Shrewsbury and working for three years at Red Cloud Indian School in South Dakota.
“Michael has been an exceptional leader for UniBank,” Tim Wickstrom, chairman of the UniBank board, said in a Wednesday press release announcing the move. “His commitment to our customers, his dedication to community involvement, and his vision for expanding our brand presence have strengthened UniBank in lasting ways. We are grateful for his service and wish him continued success in his next chapter.”
During Welch’s time as CEO, the bank grew its presence in Worcester, expanding the bank’s relationship with the Worcester Red Sox and opening a branch across from Polar Park in The Revington mixed-use building.
Welch raised his profile outside the banking space while pumping gas as part of the bank’s discount gas promotion at a Canal District gas station.
“It has been an honor to lead UniBank,” Welch, a member of the 2025 WBJ Power 100, said in the press release. “I am grateful to our dedicated employees and proud of all we have accomplished together in service to our customers and communities. I look forward to continuing that work over the next several months and ensuring a smooth transition.”
UniBank’s announcement didn’t mention Welch’s plans for his time after UniBank.
UniBank is the seventh-largest bank in Central Massachusetts, according to information compiled by the WBJ Research Department, with $2.4 billion in local deposits and $2.7 billion in total assets. The bank has 15 branches and 254 employees.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
