Hampden in Mass. Pick Its Next CEO

Community banking

Hampden Urges Shareholders to Oppose Exploring Sale

Two proxy advisory services have recommended against a proposal for Hampden Bancorp in Springfield, Mass., to explore a possible sale.

By Jackie Stewart

October 22

Hampden Bancorp (HBNK) in Springfield, Mass., has selected an insider to serve as its next chief executive.

Glenn S. Welch will become CEO of the company and its Hampden Bank effective Jan. 1. He is replacing Thomas R. Burton, who is retiring, the $611 million-asset company said Tuesday.

Welch, who has served in numerous leadership roles with Hampden since 2001, became a director, president and chief operating officer in January. He previously was division executive for the business banking unit of Hampden Bank.

Before joining Hampden, Welch was vice president of the middle-market group at Fleet Bank.

Burton has been CEO of the company and the bank and its predecessors since 1994 and was president from 1994 to 2011. Previously he was a managing partner at KPMG.

After his retirement on Dec. 31, Burton will continue to serve on the boards of Hampden and the bank unit.

Jackie Stewart

Executive Editor, American Banker Magazine

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