Needham Bank Names New CEO

NEEDHAM, MA — The former head of Sovereign Bank is now set to take the helm at Needham's community bank.

Needham Bank announced Thursday that Joe Campanelli has been named their new CEO. He starts his new job on Jan. 3 and succeeds Mark Whalen, who announced his retirement earlier this year.

Campanelli comes to Needham Bank after working for Fleet Bank, Sovereign Bank, and Flagstar Bank. He worked at Hartford National Bank and their successor banks before leaving Fleet for Soverign in 1997. He served as their CEO before leaving in 2008 during the financial crisis. He also served as Chairman, CEO, and Director of Flagstar Bank from 2009-2012, according to a press release.

“As a Wellesley resident I’ve seen first-hand how committed Needham Bank is to my town and all of the communities it serves. They have an excellent management team and their reputation is second to none. I’m delighted to have this opportunity and look forward to getting to work with them on Jan. 3," Campanelli said in a statement.

Campanelli is a Wellesley resident and serves as Chairman and Trustee of Tufts Medical Center and as Trustee of the Boys and Girls Club of Boston. He graduated from Babson College earning a BSBA and from Suffolk University where he was awarded an Honorary Doctorate of Commerce.

Needham Bank has nine locations.

Image via Needham Bank