CAMBRIDGE, Mass.--(February 1, 2019)-- Cambridge Trust Company, a subsidiary of Cambridge Bancorp (NASDAQ: CATC) announced today the appointment of Puneet Nevatia as Senior Vice President and Chief Information Officer. Nevatia will lead the bank’s information technology strategy and oversee all aspects related to the implementation of IT enhancements, aimed at delivering a superior experience to the company’s private banking and wealth management clients. In addition, Nevatia will be responsible for all internal systems, including infrastructure and security. The CIO role also includes responsibility for the management, planning and oversight of the technology deployed in the company’s ten offices located in greater Boston and southern New Hampshire. Nevatia replaces Lynne Burrow, who served as the CIO and Director of Strategy and Planning at Cambridge Trust until her retirement in September 2018.
“The Chief Information Officer role is of integral importance to the future of Cambridge Trust. By appointing Puneet Nevatia to spearhead our information technology initiatives, we will benefit from his deep expertise, and advance Cambridge Trust’s strategic goals,” said Denis K. Sheahan, CEO of Cambridge Trust. “Puneet is a strong leader with more than twenty years of experience in technology roles, primarily in the financial services sector. We are thrilled that he is joining our leadership team at a time when the bank is experiencing growth and expansion.”
Cambridge Trust has been bolstering its private banking business in addition to recruiting experienced leaders to meet the growing wealth management needs of high net worth individuals and their families; business owners; private partnerships; and nonprofit organizations. The company’s recent re-branding, comprehensive marketing programs and agreement to merge with Optima Bank & Trust are further evidence of Cambridge Trust’s commitment to innovation, change and growth.
About Puneet Nevatia
Puneet Nevatia has more than 20 years of technology experience, with specific expertise in financial services. He joins Cambridge Trust from Publicis.Sapient where he was responsible for managing digital transformation projects and key initiatives for a number of banking and financial clients, as well as leading digital product development from concept to launch. His experience also includes running front office technology for Babson Capital Management and serving as a Vice President of Application Delivery for Wellington Management. Earlier in his career he worked in technology roles at Cambridge Technology Partners.
Nevatia holds an M.S. from The Ohio State University and a Bachelor of Technology with Honors from the Indian Institute of Technology (IIT) in Kharagpur, India. He is also the founder and President of Higher Possibilities, Inc., a 501C(3) organization dedicated to improving the quality of life for the poor and physically handicapped.
About Cambridge Trust
Cambridge Trust, headquartered in Cambridge, Massachusetts is a 129-year-old Massachusetts chartered commercial bank with approximately $2.0 billion in assets and ten Massachusetts locations in Cambridge, Boston, Belmont, Concord, Lexington and Weston. Cambridge Trust is one of New England’s leaders in private banking and wealth management with $3.1 billion in client assets under management and administration. The Wealth Management group maintains offices in Boston, Massachusetts and Concord, Manchester and Portsmouth, New Hampshire. In December 2018, Cambridge Bancorp, the parent company of Cambridge Trust, announced a definitive agreement to merge with the Optima Bank & Trust Company which has offices in Bedford, Dover, North Hampton, Portsmouth and Stratham, New Hampshire.
Source: Cambridge Trust