Independent Bank in Rockland, Mass., has selected its next CEO.
The $20 billion-asset company said in a press release that Jeffrey Tengel will succeed Christopher Oddleifson on Feb. 6.
Tengel, who also joined Independent’s board, previously served as head of commercial specialty banking at M&T Bank. Before that, he was president of People’s United Financial, which was sold to M&T.
Oddleifson, who has been the bank’s CEO since 2003, is retiring but will remain with the bank as an advisor until the end of this year. He will stay on the board until his term ends this year.
“After leading Rockland Trust for over 20 years, I have decided that the time has come to pass the baton,” Oddleifson said in the release.