Cape Cod 5 Announces New CEO as Savarese Plans Retirement

Photo Courtesy of Cape Cod 5. Pictured (L to R) Co-President Matt Burke, Chair & CEO Dorothy Savarese, Vice Chair of the Board Tom Evans, and Co-President Bert Talerman shown at the Cape Cod 5 Headquarters Ribbon Cutting Ceremony, February 2020

HYANNIS – Cape Cod 5 has announced a number of role changes in the company, including the promotion of Co-President Matthew S. Burke to Chief Executive Officer. 

The change was announced by CEO Dorothy A. Savarese, who added that she would transition to Board of Directors Executive Chair, then retire from the Bank in spring of 2023.

Robert A. Talerman, Co-President, will be promoted to President and will also become a member of the board. He will also be elected as Chair and President of the Cape Cod 5 Foundation, said Savarese. 

“Cape Cod 5 has been purpose-built to assist our customers and communities in strengthening their financial health, and we will continue to adapt and grow in these efforts through Matt’s strong and thoughtful leadership,” said Savarese.

“I am excited about Matt taking on this role, as he has an impressive and demonstrated ability to anticipate future needs and opportunities and to lead the organization in an inclusive way to deliver on its goals and commitments.”

Burke has worked closely with Savarese and the bank’s management team as Co-President since 2019. Before that, he served as Chief Financial Officer.

His experience also includes serving on the boards of the YMCA Cape Cod, Cape Cod Technology Council, Boys and Girls Club of Plymouth and the ABA Stonier Graduate School of Banking in Wharton. Burke is also a veteran of the United States Army.

Burke’s start as CEO will begin on May 18. He will become Chair of the Board next year.

About Grady Culhane

Grady Culhane is a Cape Cod native from Eastham. He studied media communications at Cape Cod Community College and joined the News Center in 2019.
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