Cape Cod Five Cents creates co-president roles

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Cape Cod Five Cents Savings Bank in Harwich Port, Mass., has a new management structure.

The $3.4 billion-asset bank said in a press release Tuesday that Bert Talerman and Matt Burke had been promoted to serve as its co-presidents. They succeeded Dorothy Savarese, who remains the bank's chairman and CEO.

Savarese will maintain direct oversight of human resources, training and development, marketing, corporate communications, community engagement, information security, risk management, fraud prevention, legal and governance.

Talerman, who had been an executive vice president at Cape Cod, will oversee all customer-facing areas, including commercial, residential and consumer lending, banking services and wealth management.

Burke, previously the bank's chief financial officer, is now responsible for accounting and finance, data analytics, IT management, digital project management and strategic support and facilities.

Both executives report directly to Savarese, who was recently named one of American Banker's Most Powerful Women in Banking.

“These promotions are a natural evolution of our executive team, as our institution has grown significantly in size, scale and complexity,” Savarese said in the release.

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