June 29, 2022
Mark O’Connell, President and CEO of Avidia Bank to Retire in 2023
[HUDSON, MA] The Board of Directors of Avidia announced today that Mark O’Connell, President and Chief Executive Officer, will retire in May 2023, capping 35 years of service to the bank.
O’Connell, a Certified Public Accountant, joined Hudson Savings Bank in 1988 as controller, eventually working his way up to Treasurer and Chief Financial Officer. In 2004, he was appointed President and CEO by the Board of Directors.
In 2007, he oversaw the merger of Hudson Savings Bank and Westborough Savings Bank to create Avidia. Under his leadership, Avidia has grown from a $120 million bank with two branches to a $2.3-billion full-service financial institution with nine branches.
A graduate of Salem State University, O’Connell serves as Vice Chairman and soon to be Chairman of the Massachusetts Bankers Association. He is a board member of the Depositors Insurance Fund and past Chairman of the United Way of Tri-County and the Boys & Girls Club of Metrowest. He was also instrumental in creating the Avidia Bank Charitable Foundation, which has provided more than $4.5 million in donations since its inception in 1997.
“I’m really proud of what we’ve all been able to accomplish at Avidia over the years. It’s not just in our growth, but how we’ve been able to continue to be good citizens to help all members of our communities,” said O’Connell.
In preparation for O’Connell’s retirement, Avidia’s Board of Directors has begun an executive search for his successor.
“The Board is so grateful for Mark’s leadership, vision, and commitment over the years, which has made Avidia the strong financial institution we are today. We look forward to building on the foundation of success he helped build.”