John Traynor, who spent more than a decade as chief investment officer at People’s United Bank, has joined Massachusetts-based Cambridge Trust Co. to lead its wealth management expansion in Connecticut.
Traynor has been named president of Cambridge Trust Wealth Management in Connecticut, the Cambridge, Massachusetts-based bank said in a statement.
Cambridge Trust launched wealth management services in Connecticut last fall after hiring a team led by Robert Maquat from People’s United Advisors. Traynor will now lead the Connecticut wealth management team and work to expand services in the state.
“We’re excited to welcome John to Cambridge Trust’s Wealth Management leadership team,” Jennifer A. Pline, Cambridge Trust’s executive vice president and head of wealth management, said in the statement. “Under his stewardship, we are confident that we will achieve our Wealth Management goals in this attractive market by offering our broad range of sophisticated wealth management services.”
Traynor has more than 35 years of experience in wealth management, the statement said.
“We are delighted to welcome John, an experienced wealth management professional, to the Cambridge Trust team,” Denis K. Sheahan, Cambridge Trust’s chairman, president and CEO, said in the statement.
Traynor joined Bridgeport-based People’s United in 2011 as chief investment officer at People’s United Advisors, the bank’s wealth management division. People’s United was acquired by Buffalo-based M&T Bank on April 1.
He unified seven separate investment teams at People’s United into one group, the statement said, and the bank’s assets under management grew $3.4 billion to $10.4 billion over a decade.
Before People’s United, Traynor spent 20 years as partner and then director of investment strategy and alternative investments at Thorson Traynor, which later became part of PNC Private Bank Hawthorn. He also had leadership roles at Citytrust Bancorp and Shawmut National Bank.
“A critical pillar of wealth management and private banking is trust between the institution and its clients,” Traynor said in the statement. “That’s why I’m pleased to join the Cambridge Trust team, which has embodied these values for more than a century, as it looks to broaden its footprint in the state of Connecticut. I’m looking forward to continuing the company’s legacy of service and trust in my home state with a strong team of experienced wealth managers.”
Cambridge Trust has $5 billion in wealth assets under management. A stock bank with $5 billion in assets and branches in Greater Boston and New Hampshire, Cambridge Trust is currently working on a deal to acquire Northmark Bank, a $442 million-asset bank based in North Andover, Massachusetts.