Cambridge Savings Bank hired Ryan Bailey as its new president and CEO. The bank hired Bailey following a national search to find a successor for Wayne Patenaude, the bank’s current president and CEO, who announced his plans to retire in 2023 after serving in the position for 12 years.

“CSB is grateful for all of Wayne’s many contributions to the bank since he joined as an executive vice president in 2007,” Robert P. Reardon, board chair of Cambridge Savings Bank, said. “After over a decade of such strong direction from Wayne, we made it a priority to select an exceptional leader who will continue to uphold CSB’s values and commitment to excellence. The board has unwavering confidence that Ryan will build on Wayne’s legacy of maintaining CSB’s position as a strong community leader since 1834.”

Effective Feb. 28, Bailey will begin his tenure as CEO and president, while Patenaude will become a special advisor to the board. In his new role, Bailey will be primarily responsible for steering the organization toward its strategic objectives, maintaining growth and profitability, and fostering a continued culture of innovation and accountability.

“We are thrilled to welcome Ryan and family to the New England area to lead us in our mission as a community bank,” Reardon continued. “Ryan has a strong vision for digital banking, financial stewardship and sustainable growth that will enhance the lives of our community members. We are looking forward to a bright future under Ryan’s leadership. His wide-ranging experience in the banking sector, which includes customer orientation and community engagement, will be vital to our continued prosperity.”

Bailey joined Cambridge Savings Bank from USAA, where he spent the past two-plus years as head of retail banking. With nearly 25 years of leadership experience within the banking sector, he also previously ran consumer banking at Bank of the West as well as several retail banking units at TD Bank.

Bailey also chaired The Consumer Bankers Association, a member-driven organization dedicated to promoting sound policy, preparing the next generation of bankers, and financing the dreams of consumers and small businesses.

“Cambridge Savings Bank’s goal of improving and enriching the lives of our neighbors in the communities that our bank serves resonates with my relationship-driven approach to leadership,” Bailey said. “With a steadfast commitment to innovation, integrity and client-centricity, I am eager to collaborate with our talented team. Together, we intend to drive growth, foster meaningful relationships, and deliver exceptional value to our customers and our communities.”

As Cambridge Savings Bank’s new president and CEO, Bailey’s vision for the bank includes continued excellence in customer service and further expansion of its digital reach and capabilities.