NewHavenBIZ

n e w h a v e n b i z . c o m | M a r c h 2 0 2 1 | n e w h a v e n B I Z 3 F r o m T h e E d i t o r s Volume 4 • Number 3 • March 2021 New Haven Biz 900 Chapel Street, New Haven, CT 06510 (203)-937-2148 • www.newhavenbiz.com EDITOR Greg Bordonaro MANAGING EDITOR Michelle Tuccitto Sullo CONTRIBUTING WRITERS Michael Bingham Jordan Grice Matthew Broderick Natalie Missakian Melissa Nicefaro Frank Rizzo Jean Falbo-Sosnovich Patricia Villers DESIGN DIRECTOR Mitchell Hayes PRODUCTION DIRECTOR Kira Beaudoin PRESIDENT & PUBLISHER Tom Curtin CHIEF EXECUTIVE OFFICER Peter Stanton CHIEF FINANCIAL OFFICER/CHIEF OPERATING OFFICER Mary Rogers GROUP PUBLISHER Donna Brassard DIGITAL DIRECTOR Jan Holder AUDIENCE DEVELOPMENT DIRECTOR Valerie Clark EDITORIAL DIRECTOR - CT Greg Bordonaro NEW HAVEN BIZ (ISSN 2639-605X), is published six times annually, 900 Chapel St., 10th Floor, New Haven, CT 06510. Copyright 2018. All rights reserved. Subscriptions: Annual subscriptions are available for $29.95. To subscribe please email circulation@newhavenbiz.com or contact our circulation team at 203-937-2148 ext. 4 New Haven BIZ accepts no responsibility for unsolicited manuscripts or materials and in general does not return them to the sender. A division of: New Haven BIZ is a publication of New England Business Media, LLC. W hen New Haven-born Alexion Pharmaceuticals moved its headquarters to Boston in 2018, there was initially fear that it would leave a major scar downtown and create a setback for the state's fledgling bioscience industry. But that hasn't been the case. Alexion still has a significant Elm City research presence at 100 College St., and the city's bioscience sector remains strong. One of its newest arrivals is Rallybio, and, ironically, it's made up of former Alexion executives who have already raised $185 million in venture funding in just a few years. e three co-founders — Martin Mackay, Dr. Stephen Uden and Jeffrey Fryer — are searching for drugs to help treat severe rare diseases, a business model that turned Alexion into one of the state's most successful bioscience companies. Rallybio, which is featured on the cover of this issue, has also absorbed scientists from Pfizer and Bristol-Myers Squibb — companies that have downsized their Connecticut presence in recent years. e moral of this story is that even from disruption and potentially bad news, new opportunities always present themselves. New Haven has a well-established bioscience ecosystem and the ability to attract world-class life-sciences entrepreneurs. Its future will be shaped, in part, by its ability to land more Rallybios. Learn more about the company and its growth plans in the Elm City on page 12. is issue also has a feature story on how the coronavirus pandemic has accelerated trends in banking — from the shi toward digital transactions to more branch closures. Academic institutions like Yale University and Wesleyan University have been able to positively impact the economies of their host cities in recent years. In this issue, you'll learn from Post University's President and CEO, John Hopkins, about his vision for how it can transform Waterbury's future. On the real estate front, read inside about how former church buildings in the region are being repurposed. Another feature spotlights how area manufacturers are finding creative ways to find talent at a time when demand for skilled workers outpaces supply. We hope you enjoy this issue. Please send us feedback and share your story ideas. n Michelle Tuccitto Sullo, Managing Editor msullo@newhavenbiz.com Greg Bordonaro, Editor gbordonaro@newhavenbiz.com When disruption creates new opportunities 4 | Business Briefs 6 | Corner Office 7 | Five to Follow 8 | Biz Spotlight 9 | Startups, Technology & Innovation C o n t e n t s Michelle Tuccitto Sullo T H E L I S T S 21 | Largest in-state-banks 22 | Largest out-of-state banks in Connecticut newhavenBIZ 23 | Arts & Business 24 | What's the Deal? 26 | Viewpoint 26 | C-Suite 27 | Biz Starts 10 | On the Record: John Hopkins Hopkins sees Post University playing key role in Waterbury's urban revival efforts. 11 | Kid Entrepreneurs As CT aims to boost entrepreneurship, it's not just adults getting in on the action. 12 | New Haven's Next Big Bioscience Star? Former Alexion execs raise $182M for Rallybio's rare disease treatments search. 14 | Pennies From Heaven As church properties increasingly close, commercial developers see new opportunities. 16 | Finding Talent Amid worker shortage, manufacturers think outside the box to lure new hires. 18 | Focus: Banking & Finance A More Virtual Reality: Pandemic shis bank branch and tech strategies into high-gear. 20 | From Teller to the C-Suite Arnold prepares to lead Essex Savings Bank. F E A T U R E S D E P A R T M E N T S Greg Bordonaro 11 16 20

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