Cambridge Savings hires Santander, BofA alum as digital lead

Cambridge Savings Bank is bulking up on technology leadership.

On Wednesday, the $6.7 billion-asset bank announced that Tony Macchi was appointed its senior vice president of digital and products. This follows several other recent leadership appointments at the Cambridge, Massachusetts financial institution, including Kevin McGuire as chief information officer in March 2022 and Carlos Osornio as head of operations and service in May.

Macchi will be in charge of the bank's ongoing digital transformation, including selecting third-party products for the bank's commercial, small business and consumer divisions, and scaling up Ivy Bank, Cambridge Savings' digital-only brand.

Ivy, which Cambridge Savings launched in July 2021, is a vehicle to attract deposits outside of the bank's footprint and, sometimes, a launchpad for new digital experiences. Cambridge Savings has already adopted technology introduced through Ivy into its physical bank, including money management tools. The bank has found that it is generating five times the amount of deposits through digital channels, either via Cambridge Savings or Ivy, than in a branch.

"Tony's proven track record of success deploying innovative online solutions to improve the customer experience, paired with his appetite to create meaningful change, made him the ideal candidate to grow CSB's digital service offering," said Katie Catlender, chief customer officer of Cambridge Savings, in a press release.

Macchi was most recently senior vice president of retail online channels at Santander Bank. He also spent time as a senior vice president in small business banking and eCommerce at Bank of America. 

"Throughout my career, I have been fortunate to witness the exponential surge in demand for solutions that enable customers to bank how and where they'd like," said Macchi in the release. "This experience has provided me with valuable opportunities to grow my skill set and leverage new innovations."