BANKING

McDonough to succeed Doyle as head of Randolph Savings

COURTESY RANDOLPH SAVINGS BANK
INDUSTRY VETERAN JAMES McDonough will serve as the new president and CEO of Randolph Savings Bank.
Posted 3/25/13

STOUGHTON, Mass. – James McDonough has been tapped to serve as president and CEO of Randolph Savings Bank, succeeding the retiring Jack Doyle, Chairman of the Board Richard Pierce announced Monday.

“We are indeed fortunate to have a leader of Jim’s stature and experience assume the role of president and CEO at Randolph Savings Bank,” Pierce said in prepared remarks. “He has proven that community banks can grow and prosper, and we look forward to having him build upon the strong financial and organizational foundation Jack Doyle has established at our bank over the past three years.”

Most recently, McDonough served as chancellor and chief financial officer of the Roman Catholic Archdiocese of Boston and currently sits on the board of Century Bank.

Prior to that, he served as president and CEO of Abington Savings Bank for 12 years, where he oversaw the bank’s growth from $225 million to $1 billion in assets, said a Randolph Savings release.

“Jim is well known and respected in the regional business community for what he accomplished at Abington Savings Bank,” said Pierce in a statement. “And that is an important market for our continued growth and success.”

Randolph Savings Bank, which was founded in 1851, is a mutual savings bank with assets of $390 million. It has seven branch officers in Rhode Island and Massachusetts and a corporate office and lending center in Stoughton, Mass.

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