Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that Kevin McGuire, previously the Chief Information Officer (CIO), has been appointed as the new Chief Operating Officer (COO), effective immediately. McGuire succeeds Michael Gilles, who is retiring after a distinguished career with the bank. In his new role, McGuire will assume responsibility for driving the bank’s operational efficiency and aligning its activities with the bank’s strategic goals. McGuire’s areas of oversight will include strategic planning, capital management, balance sheet strategies, risk and investment management, and more.
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Kevin McGuire, Chief Operating Officer at Cambridge Savings Bank (Photo: Business Wire)
Having spent the last two years serving as CSB’s CIO, McGuire has been instrumental in transforming its digital services to enhance customer satisfaction. Previously, McGuire was the Head of Digital Technology, Global Wealth and Asset Management at John Hancock’s parent company, ManuLife Investment Management (ManuLife). At ManuLife, he led the technology and operations team that built the firm’s Personal Investing Platform and supported the award-winning Twine Savings and Investing mobile app and COIN impact investing platform.
McGuire joined CSB soon after the launch of its digital-only division, Ivy Bank, and has played an active role in CSB’s deepened investment in technology. Since 2022, McGuire has led the bank’s efforts to expand its suite of electronic tools, treasury management products, and digital services, ultimately reimagining the digital experience for its customers.
“During my time as Chief Information Officer at Cambridge Savings Bank, I have seen firsthand our team’s dedication to enhancing customer satisfaction through digital transformation,” said McGuire. “As Chief Operating Officer, I look forward to driving operational efficiency and aligning our strategic goals to ensure we continue delivering exceptional value to our esteemed customers. I am grateful for Michael Gilles’ leadership and mentorship, and I am committed to building on his legacy as we embark on this new chapter.”
With McGuire now acting as COO, Christopher Johnson has been appointed to the role of CIO. He will report directly to McGuire, ensuring alignment with CSB’s vision and key initiatives. As CIO, Johnson will oversee all aspects of technology, including infrastructure, security, applications, digital transformation of the tech stack, and delivery of enhanced capabilities. The role will extend across an expansive interconnected system of bank branches, functions, and corporate operations.
Johnson brings over 25 years of experience in software delivery to the bank and has spent the last 10 years of his career focused on identifying innovative solutions for companies within the financial services industry. Most recently, Johnson led the transformation of system and platform services for Global Wealth & Asset Management at John Hancock. Previously, he held key leadership positions at Northwestern Mutual, Citizens, and MassMutual.
“In an age of rapidly evolving technological advancement and change, it is imperative for financial institutions to stay abreast of the challenges and opportunities in front of them,” said Johnson. “CSB has a storied history dating back nearly 190 years, with a clear and longstanding commitment to doing right by its customers. As Chief Information Officer, I am eager to contribute to this mission by leading innovative initiatives, enhancing our digital offerings and ensuring that our technology profile exceeds our customers’ expectations.”
At CSB, Johnson will focus his efforts on fostering business growth and enhancing the organization’s customer experience through personalization, omni-channel capabilities, and more. Given the bank’s strategic commitment to continued modernization as a growth driver, Johnson and McGuire will work together to align strategic digital priorities across all lines of business including commercial, consumer, small business, and digital banking.
These leadership changes follow the February 2024 appointment of the bank’s new President & CEO, Ryan Bailey and subsequent hiring of Angela Conti as CSB’s Head of Consumer and Small Business Banking. The continued recruitment of top talent underscores CSB’s commitment to fostering an organizational culture that embraces diverse perspectives, pushes limits, and sparks transformative change in the pursuit of advancing financial well-being for its customers and the community. For those interested in learning more about CSB’s dynamic, people-first culture and open roles, please visit cambridgesavings.com/careers.
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service banking institution with nearly $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency Affirmed CSB’s investment-grade rating, reinforcing the bank’s position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender.
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