Robert J. DiBella, President and Chief Executive Officer of The Savings Bank, has announced his retirement effective December 31, 2024. He will be succeeded by Raichelle L. Kallery, Executive Vice President and Chief Operating Officer.
Bank President DiBella has served as President and CEO of The Savings Bank since 2016. His retirement caps a 47-year career in the financial services industry, the last 37 of which have been with The Savings Bank.
During his tenure as president and CEO, assets have grown 53%, from $538 million to $821 million. Additionally, he led the Bank’s expansion of its digital customer experiences through the introduction of innovative products and services like Zelle, Credit Sense, Link Live Chat, Video and Appointment setting, Online Account Opening, Real Time Text alerts, Kasasa Rewards, Card Hub, Consumerbot, and TSB Business Direct. Each of these products and services has been instrumental in providing customers with safe and secure digital banking opportunities and experiences.
Bank President DiBella has also been instrumental in securing the Bank’s identity as a true community bank. His focus on community has resonated with Bank staff who he has encouraged to participate in community organizations and activities in the areas serviced by the Bank. Under his leadership, The Savings Bank has continued its longstanding tradition of giving back to these communities and organizations through countless financial donations and staff members’ representation in organizations as officers, board members, and volunteers.
When he leaves The Savings Bank, DiBella’s legacy will be reflected in the numerous projects he has fostered, most notably is the recent addition to the Bank’s Main Office in downtown Wakefield. It was under his leadership and direction that the Bank secured an adjacent property and worked diligently with the Town to build an addition that accommodated the Bank’s physical and financial growth while reflecting the downtown landscape. He was a key player in many of the community’s efforts to revitalize the downtown area and served as an officer and director of the former Wakefield Main Streets, Inc. that created opportunities to bring community support to the downtown and business areas.
“Bob DiBella’s presence at The Savings Bank will be felt for years to come at both The Savings Bank and within the communities we serve,” his successor Rachelle Kallery, Executive Vice President and COO, said in reflecting on his legacy. “Thanks to Bob’s focus and commitment to the real meaning of being a hometown community bank, The Savings Bank has been a champion for hundreds of organizations that have been recipients of financial contributions and staff involvement. It is that legacy that we continue to honor as we begin a new chapter.”
Professional history at The Savings Bank
Bank President DiBella 37-year career at The Savings Bank began in 1987 when he joined as Accounting Manager. He was promoted to Assistant Treasurer and Controller in 1988, and continued to be promoted to positions of increasing responsibility throughout his career, including Assistant Vice President, Treasurer and Controller; Vice President and Treasurer; Senior Vice President and Treasurer; Senior Vice President, Treasurer and Chief Operating Officer; and Executive Vice President, Treasurer and Chief Operating Officer; before becoming President and Chief Executive Officer in 2016.
President DiBella was elected as a Corporator and Trustee of The Savings Bank in 1993. He serves as Chair of the Executive Committee of the Board of Directors and is a member of the following committees: Asset Liability, CRA/Fair Lending, Enterprise Risk Management, and Technology. It was his foresight that led to the creation and implementation of both the Enterprise Risk Management and Technology committees. He also serves as a Director on the Boards of TSB, Donald E. Garrant Foundation, Inc., The Savings Bank Charitable Foundation, Inc., and First Financial Trust, N.A., a subsidiary of The Savings Bank.
In addition to his professional responsibilities at The Savings Bank, President DiBella has been associated with several committee and civic organizations over the years in the communities served by The Savings Bank, including Treasurer and Chair of the Finance Committee at the Greater Boston Stage Company, and Treasurer and Director of Wakefield Main Streets, Inc.
“It has been an honor to have been associated with The Savings Bank for the past 37 years, most recently as its President and CEO,” President DiBella said in announcing his upcoming retirement. “I have had the privilege of working with a dedicated and professional team throughout my tenure and I look forward to continuing to work alongside this team as we begin our transition.”
“Executive Vice President and COO Raichelle Kallery has been a tremendous asset to The Savings Bank, its subsidiaries and the communities we serve,” he added. “I join my colleagues at the Bank in congratulating her as she prepares to take the helm. We wish her well as she begins this new chapter.”
