Berkshire Hills Bancorp, Inc. (NYSE: BHLB) and Berkshire Bank announced today that Subhadeep Basu, Chief Financial Officer of the Company and the Bank, has resigned effective October 7, 2022, for personal reasons and to subsequently pursue other career interests. Mr. Basu has agreed to be available as an advisor to the Company to assist with transition matters through December 31, 2022.
The Company and Berkshire Bank have appointed Senior Vice President and Chief Accounting Officer Brett Brbovic, age 42, as Interim Chief Financial Officer, effective October 7, 2022, and is in the process of searching for a new Chief Financial Officer through an executive search process. Mr. Brbovic first joined the Company and Berkshire Bank from KPMG LLP in 2012 as Vice President and Controller and has served as Senior Vice President and Chief Accounting Officer since 2015.
Berkshire CEO Nitin Mhatre stated, “We’re grateful for the contributions that Subhadeep has made in his service as CFO, and we wish him well in his future pursuits. Our Company has made strong financial progress during his tenure. Our leadership is committed to maintaining the momentum of our BEST strategic transformation and our entire Berkshire team is focused on our goal to be a high-performing, leading socially responsible community bank. Brett Brbovic is a Berkshire veteran with a solid history and I’m confident in his leadership of our financial team through this transition. We have retained the firm Spencer Stuart to conduct a national search process for the CFO position.”
Mr. Basu added, “I am proud to have been part of Berkshire and working with a wonderful group of people. I am grateful for the opportunity to have been able to work together with Nitin, the Board and the team to help Berkshire progress to where it is now. My best wishes to the Berkshire team for continued success.”
Mr. Mhatre also noted, “There have been no changes to the 2022 financial guidance that we provided in our last earnings call. We look forward to releasing our third quarter results as scheduled on October 20, 2022.”
ABOUT BERKSHIRE HILLS BANCORP
Berkshire Hills Bancorp is the parent of Berkshire Bank. The Bank’s goal is to be a high-performing, leading socially responsible community bank in New England, Upstate New York, and beyond. Berkshire Bank provides business and consumer banking, mortgage, wealth management, and investment services. Headquartered in Boston, Berkshire has approximately $11.6 billion in assets and operates 100 financial centers in New England and New York, and is a member of the Bloomberg Gender-Equality Index. To learn more, call 800-773-5601 or follow us on Facebook, Twitter, Instagram, and LinkedIn.
