Berkshire Hills Bancorp named Berkshire Bank President Richard M. Marotta CEO and president of the company and CEO of the bank. He succeeds Michael P. Daly, who has stepped down as CEO, president and director.

Marotta has also been appointed as a member of the board of directors, while Berkshire Bank Chief Operating Officer Sean A. Gray has been named president of the bank. Daly will continue to be available to assist in the transition of the CEO role to Marotta.

“Mike’s commitment to the Bank, our customers and our communities has been instrumental in Berkshire’s success. We thank him for his focus on creating the strong franchise we have today,” said William J. Ryan, chairman of the board. “Building on the company’s progress under Mike’s leadership, Richard is in a strong position to step into the CEO role.”

“I am extremely proud of the accomplishments that the employees of the company have achieved during my time as CEO,” Daly said. “When I began my tenure 16 years ago Berkshire Bank was one of the smallest banks headquartered in Massachusetts with some 300 employees. The company is now the largest with nearly 2,000 employees. I’ve built long lasting relationships with many employees during this time who I will continue to view as my family.”

Marotta has been senior executive vice president of Berkshire Hills Bancorp and president of Berkshire Bank since 2015. His prior roles at the company included EVP, chief risk officer and EVP, chief risk and administrative officer. In these roles, he was responsible for restructuring the entire Risk, Credit, Compliance, and Anti-Fraud programs of the bank.

Before joining Berkshire, Marotta spent over 20 years at KeyBank including senior leadership roles in lending, credit and asset recovery.

Gray has been senior executive vice president of the company and chief operating officer of the bank since 2015. He joined the company as first vice president, Retail Banking and subsequently served as executive vice president, Retail Banking. Gray has played a vital role in the operating teams of the bank and was the president of the prior Berkshire Municipal Bank. Gray further serves as president of Berkshire Insurance Group.

Prior to joining the Bank, Gray spent 6 years with Fleet Bank, which was acquired by Bank of America, in multiple roles including vice president and consumer market manager in Waltham, Massachusetts.

Berkshire Bank has approximately $12 billion in assets and 115 full service branches in Massachusetts, New York, Connecticut, Vermont, New Jersey and Pennsylvania providing personal and business banking, insurance and wealth management services.