Berkshire Hills Bancorp, the parent company of Berkshire Bank, a community bank with financial centers in New England and New York, appointed David Rosato senior executive vice president and CFO. Rosato will join Berkshire on Feb. 6.
“We’re pleased to welcome Mr. Rosato to the Berkshire team as chief financial officer. He’s a well-respected seasoned executive leader with exceptional business and financial acumen that will further bolster and accelerate Berkshire’s Exciting Strategic Transformation (BEST) program,” Nitin Mhatre, CEO of Berkshire, said. “Mr. Rosato’s proven track record of successfully driving profitable growth while creating long-term, sustainable value for shareholders combined with Berkshire’s differentiated brand positioning and purpose-driven offerings will further support us on our journey towards becoming a high-performing, leading socially responsible community bank.”
In his role as senior executive vice president and chief financial officer, Rosato will serve as the company’s top financial leader. He will work closely with senior management to meet the organization’s short and long-term objectives, regulatory requirements and evaluate current and future operating performance to enhance shareholder value, maintain and improve financial flexibility, and enhance Berkshire’s overall financial position. He will report directly to Mhatre.
“In addition to welcoming Mr. Rosato, I want to thank long-time Berkshire veteran Brett Brbovic for his leadership of the finance team during the transition. Brett will continue to serve as chief accounting officer, a position he has held since 2015,” Mhatre said.
“I’m honored to join Berkshire and work alongside its talented employees to create long-term shareholder value and deliver profitable growth,” Rosato said. “Few institutions have such a long and respected history as Berkshire does helping their employees, customers, shareholders and communities reach their full potential. I look forward to collaborating with the entire team to create a best in class, leading socially responsible community bank.”
Rosato is a seasoned chief financial officer and banking executive who brings more than 35 years’ experience driving profitable growth within regional financial institutions. He most recently served as chief financial officer of People’s United Financial, where he spent the last 15 years. Eight of which as chief financial officer where he worked regularly with the board, CEO and executive management team to plan and execute strategies to drive long-term shareholder value. During his time at People’s United the company grew from $14 billion to over $65 billion in assets. Prior to joining People’s United, Rosato worked at Webster Financial Corporation, including serving as its treasurer and M&T Bank.
