NewHavenBIZ

8 n e w h a v e n B I Z | O c t o b e r 2 0 2 2 | n e w h a v e n b i z . c o m O n T h e R e c o r d | Q & A By Michelle Tuccitto Sullo W hen Anthony A. Joyce III takes over as the new president and CEO of Chelsea Groton Bank, he says he will continue the bank's mission, including enhancing customer service while shepherding an ongoing branch reinvention. Joyce is currently executive vice president and chief operating officer, but will take over the bank's top spot on Jan. 1. Joyce will replace B. Michael Rauh Jr. who is retiring at the end of 2022 aer a dozen years leading the bank. Rauh will continue to serve as a corporator and trustee. e bank doubled in size under Rauh's leadership and has surpassed $1.5 billion in assets. Joyce is a lifelong state resident with nearly four decades of banking experience. He originally joined Chelsea Groton's senior leadership team to lead its com- mercial lending group in 2013, and later was promoted to senior lender. Joyce was named to his current position in 2020. e Groton-based bank has 14 branches throughout New London County and a loan production office in Hartford County. According to Joyce, he plans to continue the bank's focus on its customers, innovation and technology. Joyce takes the helm as Chelsea Groton Bank reinvents its branches, giving them a makeover to shi from the traditional transactional model, with a wall of tellers, to having spaces that are conducive to hosting classes and gatherings. e bank regularly hosts classes on financial topics, such as planning for college and retirement. Classes aimed at entrepreneurs tackle topics like marketing and taxes. ey also host non-banking events, from cooking classes to pet adoptions. e spaces are being redesigned to be easily converted to theater or classroom seating, depending on an event's needs. e redesign includes spaces for private conversa- tions, plus areas for videoconferencing so the bank can easily bring in outside experts. New Haven Biz recently chatted with Joyce to find out more about his plans for the bank aer he takes over in the new year. What will be your priorities once you are president and CEO? My main goal and priority is to continue to maintain the commitment the bank has to the community and employees. e bank has a great reputation, a good cul- ture, and we're very supportive and involved in the local community, financially and with our time and talent. e message I want to get out to everybody is that none of that is going to change. We're going to contin- ue our very strong commitment to all of those things. It has been a very successful run for the bank under (Michael Rauh's) leadership, so there are some big shoes to fill. I hate to overuse the analogy of 'If it ain't broke, don't fix it,' but things are in very good shape now. My mission is to continue that along. Do you foresee continued expansion of the bank's lending footprint? Yes. We'll maintain the course we are on now. From a strategic standpoint, we've tried to broaden our market outside of just New London County. We opened our loan production office (in Hartford Coun- ty). We're going to do it in a measured fashion. We are going to make further inroads into New Haven, Middlesex and Hartford counties. The bank broke ground this summer on a renovation of its Groton headquarters. What's involved? ere's going to be a dramatic difference. e whole facade is going to change. It is going to be a much more modern, contemporary-looking building. From a customer standpoint, there is going to be more flexibility. We're going to have two drive-up vir- tual banking machines. ere will be two video teller machines. Inside, we'll have a fully modernized branch, where Changing of the Guard Incoming Chelsea Groton Bank CEO Joyce to oversee branch reinvention PHOTO | CONTRIBUTED Chelsea Groton Bank officials at the July 2022 groundbreaking ceremony for the lender's revamped headquarters building. (From left to right) Anthony Joyce, incoming CEO and current executive vice president, chief operating officer; Michael Rauh, president and CEO; Lisa Fields, assistant vice president, purchasing and facilities manager. Anthony A. Joyce III Incoming President & CEO Chelsea Groton Bank Age: 60 Education: B.S., Business Administration, University of Connecticut; MBA, University of New Haven

• Cover