February 26

Bangor Savings announces leadership transition

James Conlon will retire in 2015 after 10 years as CEO, and current executive Robert Montgomery-Rice will take over.

By Edward D. Murphy emurphy@pressherald.com
Staff Writer

The chief executive officer of Bangor Savings Bank plans to retire in 2015 after 10 years in the position.

click image to enlarge

James Conlon, left, plans to retire as president and CEO of Bangor Savings Bank in June 2015, and Robert Montgomery-Rice, right, will take over.

Courtesy Bangor Savings Bank

James Conlon, who is also bank president, will step down on June 1, 2015, Bangor Savings said Tuesday in a news release. His successor will be Robert Montgomery-Rice, an executive currently overseeing several of the bank’s departments.

Montgomery-Rice is being named chief operating officer in the interim as he and Conlon work on the transition of leadership, the bank said.

Conlon will remain on the Bangor Savings board of directors after retiring, and Montgomery-Rice will be appointed to the board once he gains the president and CEO titles in June 2015.

Bank Chairman Robert Strong said Conlon gave the company such early notice of his plans to retire that the board was able to name his successor more than 15 months before his retirement date. Strong also said the bank had enough strong internal candidates that it did not look at outside applicants.

Conlon joined Bangor Savings in 1996 as senior lender and was named CEO in June 2005. He earned the additional title of president in March 2006.

Montgomery-Rice had held senior management positions at BankBoston, Cambridgeport Bank and Fidelity Investments before joining Bangor Savings in 2004. He currently oversees the consumer banking, information technology, real estate management and several operational departments at Bangor Savings.

Conlon is only the 11th person to occupy the role of president and CEO at the bank in the 162 years since its founding in 1852, the release said.

Bangor Savings Bank has more than $3 billion in assets and 57 branches, including 14 in southern Maine.

Edward D. Murphy can be contacted at 791-6465 or at:emurphy@pressherald.com

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