Cambridge Bancorp, the Cambridge, Mass.-based parent company opf Cambridge Trust Company, has appointed John Traynor to lead the firm’s Wealth Management team in Conn., the bank said.
As president of Cambridge Trust Wealth Management – Connecticut, Traynor is tasked with expanding wealth management services throughout the Nutmeg State.
“A critical pillar of wealth management and private banking is trust between the institution and its clients,” Traynor said in a prepared statement. “That’s why I’m pleased to join the Cambridge Trust team, which has embodied these values for more than a century, as it looks to broaden its footprint in the state of Connecticut. I’m looking forward to continuing the company’s legacy of service and trust in my home state with a strong team of experienced wealth managers.”
An industry veteran with over 35 years of experience in wealth management, Traynor most recently served as chief investment officer at Peoples United Advisors. Under his leadership, the firm’s client assets under management (AUM) grew from $3.4 billion to $10.4 billion over the course of a decade.
Prior to his work with Peoples United Advisors, Traynor spent two decades as partner and later director of Investment Strategy & Alternative Investments at Thorson Traynor (later PNC Private Bank Hawthorn). He has also served in leadership roles at Citytrust Bancorp and Shawmut National Bank.
Jennifer A. Pline, head of Wealth Management at Cambridge Trust, said in the news release that she looked forward to Traynor taking the reins of leadership at her division.
“Under his stewardship, we are confident that we will achieve our Wealth Management goals in this attractive market by offering our broad range of sophisticated wealth management services,” she said.
According to Denis K. Sheahan, chairman, president and CEO of Cambridge Trust Company and Cambridge Bancorp, Traynor is a valued addition to his firm’s efforts to scale its wealth management business in an important regional market.
“We are delighted to welcome John, an experienced wealth management professional, to the Cambridge Trust team,” he said in the news release.
Cambridge Trust reported $4.7 billion in client assets under management and administration as of March 31, 2022. The Wealth Management group maintains offices in Boston and Wellesley, Massachusetts, and Concord, Manchester, and Portsmouth, New Hampshire.
Founded in 1890, Cambridge Bancorp, the parent company of Cambridge Trust Company, reported approximately $5 billion in assets as of March 31, 2022, and a total of 19 Massachusetts and New Hampshire locations.