New Hampshire Mutual Bancorp in Concord will promote two executives to the position of president of its bank units after the retirement of Chief Executive Paul Rizzi.

The $1.5 billion-asset company named Philip Emma president of Merrimack County Savings Bank and Richard Wyman president of Meredith Village Savings Bank. Both moves are effective Jan. 1.

The promotions come as Rizzi plans to retire as president and CEO of Merrimack County, after 18 years at the bank. Rizzi will also retire as co-president and co-CEO of the holding company. Samuel Laverack will become the sole president and CEO of New Hampshire Mutual Bancorp.

Wyman will succeed Laverack as president of Meredith Village. At both Merrimack County and Meredith Village, the CEO positions will be left vacant.

Emma is currently chief operating officer of New Hampshire Mutual Bancorp and president of MillRiver Wealth Management, an affiliated subsidiary. Wyman is currently chief financial officer of New Hampshire Mutual Bancorp.

Rizzi will remain a director of both New Hampshire Mutual Bancorp and Merrimack County. Emma will also retain his position as president of MillRiver.

As part of the series of personnel moves, New Hampshire Mutual Bancorp also promoted Jason Hicks from treasurer of New Hampshire Mutual Bancorp to chief financial officer.

New Hampshire Mutual Bancorp was formed in 2013, to serve as the holding company for Merrimack County and Meredith Village, which merged in the same year.

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