Issue link: https://nebusinessmedia.uberflip.com/i/1523493
HARTFORDBUSINESS.COM |JULY 8, 2024 3 Biz Briefs Tel: (860) 236-9998 | Fax: (860) 570-2493 Copyright 2020. All rights reserved. Postmaster: Please send address changes to: Hartford Business Journal P.O Box 330 Congers, NY 10920-9894 Peter Stanton | CEO, pstanton@nebusinessmedia.com Tom Curtin | President, ext. 124, tcurtin@hartfordbusiness.com Subscriptions Annual subscriptions are $132.00. To subscribe, visit HartfordBusiness.com, email circulation@ hartfordbusiness.com, or call (845) 267-3008. Advertising For advertising information, please call (860) 236-9998. Please address all correspondence to: Hartford Business Journal, 100 Allyn Street, Suite 3, Hartford, CT 06103 Stay Connected For breaking and daily Greater Hartford business news go to: www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln:www.linkedin.com/company/the-Hart- ford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend: www.hartfordbusiness.com/enewsletters Hartford Business Journal (ISSN 1083-5245) is published bi-weekly, 27x per year — including two special issues in November and December — by New England Business Media, LLC, 100 Allyn Street, Suite 3, Hartford, CT 06103. Periodicals postage paid at Hartford, CT and at additional entry points. Editorial Greg Bordonaro | Editor, ext. 139 gbordonaro@hartfordbusiness.com Drew Larson | Web Editor, ext. 121 alarson@hartfordbusiness.com Beat: Energy Michael Puffer | Staff Writer, ext. 145 mpuffer@hartfordbusiness.com Beats: Real Estate, Economic Development, Banking & Finance Hanna Snyder Gambini | Staff Writer hgambini@hartfordbusiness.com Beats: Economic Development, Arts, Culture & Tourism Skyler Frazer | Staff Writer, ext. 145 sfrazer@hartfordbusiness.com Beats: Government, Manufacturing, Cannabis David Krechevsky | Staff Writer, ext. 702 davidk@hartfordbusiness.com Beats: Health Care, Bioscience Stephanie R. Meagher | Research Director Heide Martin | Research Assistant Steve Laschever | Photographer Business Tom Curtin | Publisher, ext. 124, tcurtin@hartfordbusiness.com Jessica M. Quinn | General Manager, ext. 137 jquinn@hartfordbusiness.com Daniel Schilke | Senior Accounts Manager, ext. 135, dschilke@HartfordBusiness.com Emily Paskind | Senior Accounts Manager, ext. 133, epaskind@hartfordbusiness.com Donna Hogan | Senior Accounts Manager, ext. 101, dhogan@hartfordbusiness.com Tracy Rodwill | Human Resources Manager trodwill@nebusinessmedia.com Staff Bartosz Zinowko | Production Director, ext. 147 bzinowko@hartfordbusiness.com Lindsay Langenauer | Digital Marketing Manager, ext. 134 llangenauer@hartfordbusiness.com Trinity Sunderlin | Graphic Designer tsunderlin@hartfordbusiness.com Biz Briefs Former Sikorsky President Paul Lemmo. Without fanfare, Stratford-based Sikorsky has a new leader D efense industry conglomerate Lockheed Martin in June quietly made a change to its top leadership at Stratford-based subsidiary Sikorsky. Richard Benton has taken over as vice president and general manager of helicopter manufacturer Sikorsky, succeeding Paul Lemmo, who was president of the company for three years. Lemmo has taken on a new role at Lockheed Martin as vice president and general manager of integrated warfare systems and sensors. Benton has spent more than two decades at Lockheed Martin serving in various roles, most recently as vice president and general manager of training and logistics solutions. The two announced their respective leadership moves on LinkedIn on June 11, but the companies didn't issue a press release on the shake up. The leadership change comes as Sikorsky has had a challenging last few years. In April, the company announced it would lay off hundreds of employees as a result of the U.S. Army's recent decision to cancel its Future Attack Reconnaissance Aircraft program. Sikorsky lost another major defense contract in late 2022, when the Army selected Bell Textron Inc. to build a long-range assault aircraft that would replace some Black Hawk helicopters. But Army officials have said they're planning a multi-year contract for the procurement of the UH-60M Black Hawk, which is produced by Sikorsky. Hinckley Allen hires two real estate attorneys from competing Hartford firm Law firm Hinckley Allen has hired two real estate attorneys who were both partners at a competing firm. Thomas B. Mitchell and Daniel D'Aprile Jr. have joined Hinckley Allen as partners in the firm's real estate practice group in Hartford. Mitchell and D'Aprile were previously partners at Hartford-based McElroy Deutsch. Hinckley Allen said Mitchell is a "seasoned" real estate finance lawyer with more than 40 years of experience representing banks, insurance companies and private lenders in commercial loan transactions. D'Aprile has a background in advising clients on commercial real estate finance transactions and other deals such as mergers and acquisitions and limited partnership investments in private investment funds. In addition to Hartford, Hinckley Allen has offices in New York, Massachusetts, New Hampshire, Rhode Island, Illinois and Florida. Boston firm on CT buying spree acquires Ridgefield employee-benefits brokerage A Boston-based insurance brokerage and consulting firm, Risk Strategies, has acquired an employee-benefits firm based in Ridgefield and Falmouth, Maine. Risk Strategies, the ninth-largest privately held U.S. brokerage firm, announced that it acquired Baker Benefit Group LLC, which provides ancillary employee benefits programs. Terms of the deal were not announced. Founded in 1999, Baker Benefit Group focuses on the design, implementation and ongoing service of individual disability insurance plans for companies with more than 5,000 employees, primarily based in the Northeast. Baker Benefit Group's clients include hospitals, universities and one of the top five global manage- ment consulting firms. Risk Strategies has more than 30 specialty practices and more than 100 offices, including ones in Boston, New York City and Chicago. The company has been on a buying spree as it works to increase its New England footprint. Earlier this year, Risk Strategies acquired Stone Insurance Agency, a Guilford-based insurance firm that specializes in commercial and personal lines. In 2023, it acquired Glaston- bury-based May, Bonee & Clark, which provides insurance place- ment, financial services and risk management advice. PeoplesBank, Cornerstone Bank to merge holding companies to form one of largest in Northeast Two Massachusetts-based community banks, including one with a significant presence in Connecticut, have agreed to merge their holding companies. PeoplesBank, which recently opened a banking center in South Windsor, and Cornerstone Bank will form a consolidated holding company for both banks called PeoplesBancorp. Both banks will continue oper- ating under separate names and brands. There will be no changes for customers, and all account infor- mation, branch banking and digital access will remain the same. PeoplesBank, with $4.4 billion in assets, has more than 300 employees and 18 banking centers HBJ FILE PHOTO Thomas Mitchell Daniel D'Aprile Todd Tallman, CEO of Cornerstone Bank, and Thomas Senecal, CEO and chairman of PeoplesBank. CONTRIBUTED PHOTO Continued on next page