Published in the December 20, 2016 edition.
WAKEFIELD – The Board of Directors of The Savings Bank have announced the election of Robert J. DiBella as president and chief executive officer of The Savings Bank, succeeding longtime President and Chief Executive Officer Brian D. McCoubrey.
Bank President DiBella has been associated with The Savings Bank since August 1987. He was elected president and CEO of Wakefield Bancorp, MHC, the holding company for The Savings Bank, at the annual meeting in April 2016 in preparation for the Dec. 16 retirement of Mr. McCoubrey. Mr. DiBella will continue to serve as president and CEO of the holding company, in addition to his new position as president and CEO of The Savings Bank.
“I am excited to accept the position as president and CEO of The Savings Bank, and look forward to continuing the philanthropic legacy Brian McCoubrey has humbly fostered since his election as president in 1992,” Mr. DiBella said. “While we wish him well in his retirement, we will miss Brian’s foresight and his leadership, which have been a key part of The Savings Bank’s position as a leader in the industry and in the community.”
In reflecting on his career at The Savings Bank, most notably on his relationship with his successor, Mr. McCoubrey spoke about their friendship and the professional respect the two have shared over their three decades together.
“In the nearly 30 years we worked closely together on many projects and issues, we rarely argued, and when we did we ended up with something we thought was pretty good,” he said. “Many, many times we hammered stuff out together while sitting at a table, driving around or over the phone on weekends. Unfortunately, corporations have ‘titles.’ Bob and I have always been partners. Absolute equals. At the core, friends. I wish Bob great success as he carries on. More than anything else I will miss his company and our conversations.”
President DiBella joined The Savings Bank as accounting manager in 1987. He was promoted to assistant vice president, controller in 1989; treasurer in 1990; senior vice president, treasurer in 1993; chief operating officer in 1996; and executive vice president and chief operating officer in 1998; before being elected president and CEO of Wakefield Bancorp, MHC in April 2016. He has served in key leadership positions in the Bank’s subsidiaries and charitable foundations, including president & CEO of First Financial Trust, N.A.; TSB Securities Group; TSB Insurance Services, Inc.; TSB Charitable Foundation; and the Donald E. Garrant Foundation, Inc.
He received his MBA, magna cum laude, from Babson College, his BS in Accounting from Northeastern University, and is an Honors graduate of Fairfield University National School of Banking.
Prior to joining The Savings Bank, Mr. DiBella was associated with Charlestown Savings Bank, Union Warren Savings Bank and New England Financial Resources.
In addition to his responsibilities at The Savings Bank, Mr. DiBella is a member of the Board of Directors of the Wakefield Lynnfield Chamber of Commerce, and Wakefield Main Streets, Inc. He has previously served on the Board of Directors of the Stoneham Theatre and the Board of Directors of the Burbank YMCA.