HUDSON – After 35 years at Avidia Bank/Hudson Savings Bank, Mark R. O’Connell will retire as president on May 25.
His tenure has seen three decades of progress, including acquisition of Westborough Savings Bank, creation of new Avidia Bank site, recreation of original Hudson Savings Bank on Main Street as corporate headquarters and the establishment of seven full-service branches in nearby towns.
O’Connell’s successor is Robert Cozzone, who has been associated with Rockland Trust for 24 years.
A native of Fitchburg, O’Connell is a graduate of St. Bernard’s High School and received a B.S. degree in science and accounting from Salem State College (now University). He and his wife, Susan, are parents of Patrick O’Connell of Salem and MaryKate O’Connell of Washington, D.C., recent bride of Alex Gorelik.
As a CPA, O’Connell said he had an acquaintance with the bank, “and I spoke often with president Jack Wedge [now deceased] before I joined the bank in 1988.”
In 2004, he succeeded Hudson resident Oliver Nunes as president.
Noting the bank’s growth and expansion, O’Connell said that 35 years ago the bank had $120 million in assets and now has $2.5 billion in assets.
Since acquiring Westborough Savings in 2007, the newly-named Avidia Bank has established branches in Marlborough, Northborough, Shrewsbury, Clinton, Leominster, Framingham and Westborough. Also a new Avidia bank building was built on Washington Street during O’Connell’s tenure.
“It has been a good vision to expand our footprint,” he said, “and I cannot foresee closing any of our branches.”
O’Connell has enjoyed his local tenure, and he has made many friends in the bank and in the community.
He will retire to his Chatham home, where he hopes to continue to play golf. After a recent successful hip replacement, he said he “expects to improve his game.” He and his wife Susan will retire to Cape Cod and plan to winter in Florida.
“I have spent nearly half my life here,” O’Connell said, “and I look forward to the next stage, a happy, healthy retirement.”
For more information on Avidia Bank, visit https://www.avidiabank.com/.