Mr. Smith Brings More Than 20 Years Of Experience With A Focus On Serving Captive Insurance Needs
BOSTON, MA, July 2, 2026 – Eastern Bank is pleased to announce Derek Smith as a Vice President, Relationship Manager-Business Development Officer with Cambridge Trust Private Banking. Mr. Smith brings more than 20 years of experience, with a focus on serving the specialized banking needs of the captive insurance industry across deposit, treasury, lending and investment services.
“Derek Smith brings more than two decades of moving clients toward their financial goals, with a solutions-focused approach to their unique needs,” said Kerri Mooney, Executive Vice President of Private Banking. “Captive insurance companies require specialized banking services, from deposit and reserve accounts to collateral trusts and treasury and investment management services, and Derek takes the time to understand their unique circumstances and regulatory and operational demands to offer practical and effective solutions aligned to their business goals. We are delighted to welcome him.”
With direct experience across the benefits/insurance and banking sectors, Mr. Smith offers private banking capabilities focused on insurance companies and services. He has recently served as Vice President-Employee Benefits Consultant at World Insurance and Vice President-Business Development at Risk Strategies Company where his work provided personalized insurance solutions tailored to clients’ financial needs. Earlier in his career, he served as a District Executive/Vice President at Santander Bank, where he was recognized for sales, service and operations improvements, and as a Regional Manager/Vice President at Citizens Bank, where he was recognized for outstanding achievement. Mr. Smith earned a Bachelor of Arts degree from the University of New Hampshire and an MBA degree from the University of Phoenix. He is a Licensed Insurance Provider (Life and Health) – Massachusetts and Rhode Island.
“Many businesses with unique benefits or other risks form captive insurance companies, which can require a comprehensive suite of specialized banking services to meet their strategic and operational objectives,” said Derek Smith, Vice President, Relationship Manager of Cambridge Trust Private Banking. “I am excited to join the Cambridge Trust Private Banking team and help to deliver meaningful and personalized support to help clients achieve their banking goals.”
Cambridge Trust Private Banking, a Division of Eastern Bank, offers a personalized banking experience with a deep focus on each client’s unique needs, priorities and values. Whether in the early stage of a career, the mainstream of building wealth, or the preparation of transferring wealth, private bankers help individuals reach their goals. Recognizing personal and professional financial needs are often interconnected, the team also works with a range of companies and organizations, including multi-generational businesses, to address their private banking goals.
About Eastern Bank
Founded in 1818, Eastern Bank is Greater Boston’s leading local bank with approximately 110 branch locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. As of September 30, 2025, Eastern had approximately $25.5 billion in assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management and Private Banking divisions, which include the largest bank-owned independent investment adviser in Massachusetts with $9.2 billion in assets under management. Eastern takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook, LinkedIn and Instagram. Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC) is the holding company for Eastern Bank. For investor information, visit investor.easternbank.com.
Media contact:
Andrea Goodman
Eastern Bank
[email protected]
781-598-7847
Investor contact:
Andrew Hersom
Eastern Bankshares, Inc.
[email protected]
617-897-1177
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