Cambridge Trust Company Names Mark D. Thompson as President and Director, Responsible for Private Banking

Company Release - 9/20/2017 8:00 AM ET

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Cambridge Bancorp (OTCQB:CATC) and its subsidiary, Cambridge Trust Company, announced that Mark D. Thompson has been named President and Director of Cambridge Trust Company. An industry veteran with 35 years of banking experience, Mr. Thompson will oversee the company’s private banking activities including wealth management, consumer banking and marketing. He will report to the Company’s Chairman and CEO, Denis K. Sheahan.

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Cambridge Trust Chairman and CEO Denis K. Sheahan (left) welcomes Mark D. Thompson (right) as Presid ...

Cambridge Trust Chairman and CEO Denis K. Sheahan (left) welcomes Mark D. Thompson (right) as President and Director. Mr. Thompson will oversee the company’s private banking activities including wealth management, consumer banking and marketing. (Photo: Business Wire)

“Cambridge Trust has a long heritage of providing integrated banking and wealth management solutions to our clients,” Mr. Sheahan said. “Mark Thompson’s unique background will help us further our goal of becoming the region’s premier private banking organization.”

Mr. Thompson was most recently the CEO of Boston Private Bank & Trust Company, which he joined in 1994 as its Executive Vice President. During his 21 year tenure, the company’s assets increased to $7 billion from $100 million, and clients’ assets under management grew to $8 billion from $25 million. Prior to joining Boston Private Bank & Trust, Mr. Thompson was an Executive Vice President and founding officer at Wainwright Bank & Trust Company.

“I’m honored to be joining Denis and the team at Cambridge Trust,” Mr. Thompson said. “The region’s new economy is rapidly expanding with growth, and Cambridge Trust, with its culture of exceptional client service, rock solid stability, and integrated banking, wealth management and trust services, is ideally positioned to be the leading private bank in the Greater Boston region.”

In strengthening the Private Banking business, Cambridge Trust will be drawing on existing wealth management capabilities and expert personnel while enhancing the overall suite of products and services. “We want to meet the full range of wealth creation, accumulation and distribution needs of families and business owners,” Mr. Thompson added.

Named to the Boston Business Journal’s “Power 50” rankings as one of the most influential leaders in Boston, Mr. Thompson has served on the boards of a number of charitable organizations and business associations, including: Northeast Arc, the Boston Symphony Orchestra, Anti-Defamation League, Casa Esperenza, Mass Insight Global 2015 Committee, Greater Boston Chamber Transportation Committee, Windrush Farm Therapeutic Equitation, Norwich University Board of Trustees, World Affairs Council of Boston, Treasurer’s Club of Boston and the Massachusetts Government Land Bank Investment Committee.

A community leader, Mr. Thompson has received the Northeast Arc’s President’s Award and the Commonwealth of Massachusetts’ Distinguished Citizen’s Award on behalf of ongoing efforts to support individuals and families with developmental disabilities. He also received the 2010 Leadership Award from the Anti-Defamation League, New England.

Mr. Thompson received his Bachelor of Science degree in Business Administration, cum laude, from Norwich University and his MBA, magna cum laude, from the Clarkson School of Business at Clarkson University.

About Cambridge Bancorp

Cambridge Bancorp, the parent company of Cambridge Trust Company, is based in Cambridge, Massachusetts. Cambridge Trust Company is a 127-year-old Massachusetts chartered commercial bank with $1.8 Billion in assets and 11 Massachusetts locations in Cambridge, Boston, Belmont, Concord, Lexington and Weston. Cambridge Trust Company is one of New England’s leaders in wealth management with $2.8 billion in client assets under management. The Wealth Management group maintains offices in Boston, Massachusetts and Concord, Manchester and Portsmouth, New Hampshire.

Cambridge Bancorp
Michael F. Carotenuto, 617-520-5543
Chief Financial Officer, Cambridge Bancorp
Mark Gibson, 508-322-8146

Source: Cambridge Bancorp