UniBank named Michael W. Welch chief executive officer and appointed Interim President Christopher D. Foley president on a permanent basis. Welch’s appointment is effective July 15. Foley becomes president immediately.

“We are incredibly excited that our new executive team brings together two talented people whose outstanding skills complement one another so well,” said Timothy P. Wickstrom, chairman of UniBank’s board of directors. “With Michael Welch’s track record of leadership and deep roots in the community, and Christopher Foley’s broad experience in banking, we have a combination that will preserve our values, continue our mission and take us to a new level of growth.”

“This is a brilliant decision, to combine the talents of two of the area’s most respected individuals to lead a well-regarded financial institution,” said Denise H. Brookhouse, CFO of Koopman Lumber and a UniBank board member. “It’s an incredibly powerful leadership team, with local roots, financial services expertise and sterling reputations in the community.”

Welch comes to the job with a long history of running educational institutions and strong ties to Central Massachusetts. A Worcester native, he graduated from St. John’s High School in Shrewsbury and later returned to serve 15 years as the school’s headmaster. In that role he oversaw a successful capital campaign, boosted financial aid and scholarships and dramatically upgraded facilities. Welch also worked as a teacher and fundraiser for the Red Cloud Indian School in Pine Ridge, SD, one of America’s poorest communities. Most recently he served as special assistant to the school’s president.

Foley has 33 years of banking experience and has been at UniBank since 2000. He will continue to run the day-to-day business of the bank – his area of expertise. He is active in the community and serves on a number of non-profit boards, including Milford Hospital Healthcare Foundation and the Blackstone Valley Educational Foundation.

UniBank, which will celebrate its 150th anniversary next year, serves Central Massachusetts, Metro West, the Blackstone Valley and beyond. The bank provides a range of services to businesses and consumers. It is one of the few community banks with a unit devoted exclusively to providing services to municipalities and other governmental agencies.