Cambridge Savings Bank appointed Michael Richardson to the role of vice president and relationship manager on is asset-based lending team.
Richardson will be responsible for managing several of the bank’s ABL relationships while leveraging his network to identify and close on new lending opportunities. Additionally, he will support Cambridge Savings Bank’s ABL team in crafting custom solutions to assist businesses with financing needs to support growth, recapitalizations, working capital and/or acquisitions, mergers and/or buyouts.
With a decade of experience in the banking industry, Richardson will report directly to Keith Broyles, senior vice president and head of ABL for Cambridge Savings Bank.
“It is an honor to join a historic, local institution that has continuously set the standard for high-quality banking in Massachusetts,” Richardson said. “Cambridge Savings Bank’s nearly 200 years of success is a testament to its clear commitment to the customer and their unique financing needs. I am eager to contribute to the bank’s ABL team and establish a foundation of trust, respect and integrity with both existing and prospective customers.”
Prior to this new role, Richardson served as portfolio manager for ABL at Eastern Bank for nearly six years. Earlier in his career, Richardson gained experience working in the ABL division for several banking institutions, including Key Corporate Bank, First Niagara Bank and TD Bank. During his career, Richardson has managed a variety of account sizes and has underwritten loans to commercial, industrial, retail and wholesale companies.
“At CSB, we apply a relationship-centric approach to everything that we do,” Broyles said. “To uphold this commitment, we are strategic and thoughtful when making hiring decisions for positions that require direct communication and collaboration with our customers. I’m confident that Michael’s diligence, passion and professionalism will greatly benefit both our team at CSB and clients whom we are privileged to serve. With his support, we will continue to delight our customers while growing our ABL presence throughout Massachusetts and beyond.”
