Cambridge Bancorp in Massachusetts has recruited two finance executives to spearhead its new asset-based lending practice.
The $1.8 billion-asset parent of Cambridge Trust Co. said in a press release Monday that it had hired Chris O'Connor as senior vice president and Peter Coates as vice president of the practice, part of its commercial lending division.
O'Connor and Coates join Cambridge Trust from Salus Capital Partners, a Needham Heights, Mass., private finance firm that focuses on retail finance. O'Connor was president and chief credit officer at Salus; Coates was senior vice president of special assets.
Cambridge Trust has 11 locations in Massachusetts, including Cambridge, Boston and Lexington.