LOWELL, Mass. - Enterprise Bank has named David Lynch as its new Managing Director and Chief Investment Officer of Enterprise Wealth Management, the company announced today. Lynch, an experienced leader in the wealth management sector, will be responsible for overseeing the wealth management division and setting its strategic path.
Lynch's appointment follows a notable career in wealth management, including his most recent role as Chief Investment Officer at Cambridge Trust Company. There, he led a team managing $4.5 billion in assets for families and institutions. His prior positions include Managing Partner and Deputy Chief Investment Officer at Athena Capital Advisors and earlier roles at the Colorado state pension fund, Eaton (NYSE:ETN) Vance Management, and Cahners Economics.
Steve Larochelle, CEO of Enterprise Bank, expressed confidence in Lynch's ability to guide clients' financial futures, citing his proven track record and passion for client service. Larochelle highlighted Lynch's extensive expertise as vital for steering the bank's investment strategy and achieving clients' financial goals.
Lynch joins Enterprise Wealth Management during a growth phase, with the division managing over $1.3 billion in assets. He brings with him a wealth of knowledge, including a BA in Economics from Dartmouth College, an MBA from Babson College where he graduated magna cum laude, and credentials as a CFA charterholder. Lynch is also an active member of the Boston Economic Club and a recognized industry thought leader.
Enterprise Bank, a community bank known for its commitment to businesses and local communities, offers sophisticated financial solutions similar to larger banks but with a focus on personalized service. The bank operates 27 branch locations and is dedicated to making a positive impact in the areas it serves.
This announcement is based on a press release statement from Enterprise Bancorp Inc.
InvestingPro Insights
As Enterprise Bank welcomes David Lynch as the new Managing Director and Chief Investment Officer of Enterprise Wealth Management, the financial community is closely observing the bank's performance metrics. According to InvestingPro data, Enterprise Bancorp Inc. (EBTC) currently holds a market capitalization of $343.07 million, with a Price/Earnings (P/E) ratio of 9.63. This valuation presents a picture of the company's financial health and investor expectations as Lynch takes the helm of the wealth management division.
InvestingPro Tips highlight that EBTC has a strong tradition of rewarding shareholders, having raised its dividend for 20 consecutive years, which could be a sign of the company's commitment to returning value to its investors. Additionally, the stock has seen a significant return over the last week, with a 1-week price total return of 18.72%, indicating a recent upswing in investor confidence.
While Lynch's expertise will be a valuable asset in driving the bank's strategic investment decisions, the company's performance in the short term has been robust, as evidenced by the strong returns over the last month and three months, with a 20.91% and 20.55% increase respectively. These figures suggest that the bank is on a positive trajectory as it continues to manage over $1.3 billion in assets.
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