Worcester Business Journal

4 Worcester Business Journal • September 28, 2015 www.wbjournal.com O ne of the first key-player names any newcomer to the Worcester business community learns is Frederick H. Eppinger. Eppinger, president and CEO of The Hanover Group, announced he would step down from his position as soon as a successor is appointed. At 56, Eppinger said in a statement he looks forward to new professional opportunities, spending more time with family, and pursuing personal interests. His colleagues at The Hanover are eager for Eppinger to maintain his Worcester community ties. As he resurrected The Hanover after a bad turn in the early 2000s to become a national property and casualty insurance company with a global reach, he's also been a champion of a number of Worcester causes. What is Eppinger's legacy at The Hanover? Eppinger, a Central Massachusetts native, joined The Hanover as president and CEO in 2003. The company had recently sold off large portions of its legacy life insurance business after the poor performance of its variable annuity business, which led to major losses. Bowditch and Dewey's Michael P. Angelini, chairman of the board at The Hanover, recalls coaxing Eppinger from his senior-level job at The Hartford, where Eppinger was a "real star", with a wealth of experience from his days as a partner at McKinsey & Co. His local connection was also attractive. "He had ideas of how to build a world-class property and casualty company and that's exactly what he did," Angelini said. Since then, The Hanover's stock price has appreciated by about 250 percent, and revenue has more than doubled, according to the company. Meanwhile, The Hanover, formerly Allmerica Financial Corp., evolved from a regional company to one that writes business in more than 200 countries. And his contributions to the city? Angelini noted that Eppinger was personally committed to civic engagement and that carried over to the office. Under Eppinger, corporate giving programs supporting the public schools and local nonprofits, were enhanced, and he helped lead city revitalization efforts, from the development of City Square to the rejuvenation the The Hanover Theater. Theater president and CEO Troy Siebels recalled Eppinger's approach to the renovation — a project to which The Hanover donated $3 million in a naming- rights gift. Eppinger pushed for the construction of the glass lobby pavilion as a new addition to the building. "It can't just be done half-way," Siebels said, echoing Eppinger. Who will take his place? Angelini said the search committee to find his successor is confident that a well-qualified executive will take his place, as there's been a lot of interest in the job. Eppinger has said he'll be available through the transition in leadership, until June 30, 2016. "I have no doubt that we'll be able to find a first-rate candidate," Angelini said. n OXFORD — The holding companies for Oxford-based Hometown Bank and Easthampton Savings Bank will merge during the first quarter of 2016, and the banks will form a "strategic partnership" while maintaining auton- omy, according to a statement from the banks. The merger of ESB Bancorp Inc. with Hometown Community Bancorp will create a mutual holding company will more than $1.7 billion in assets, the statement said. This would bring the new holding company, which will be named Hometown Financial Group, into the top 10 largest banks in Central Massachusetts when ranked by assets, according to Worcester Business Journal data from June 30, 2014. WORCESTER — The College of the Holy Cross's comprehensive fundrais- ing campaign "Become More" has crossed the halfway mark, and won a 2015 Council for Advancement and Support of Education (CASE) educa- tional fundraising award. Holy Cross received an Overall Performance Award for 2015, which is given based on an analysis of three years of fund- raising data. The college said it has raised more than $200 million toward the goal of $400 million for the cam- paign, which is designed to advance and enhance all aspects of life at Holy Cross. WORCESTER — A custom piece of Worcester craftsmanship has been installed at the United Nations in New York City, just in time for the visit from Pope Francis, with a display created by Continental Wood Craft housing a Kuwaiti exhibit. "Our milestone was to get it completed before the visit from the pope," John Lasell, engineering manager for Continental Wood Craft, said. Continental Wood Craft, an 80-person company within Worcester- based BlueHive, creates custom archi- tectural pieces. It has built previous pieces for the UN, but this one brought additional time constraints, said Glen Martin, vice president of Continental Wood Craft. The 7,000-pound display case that houses a representation of a Kuwaiti ship is 20 feet long and 10 feet tall. FRAMINGHAM — Cost Plus World Market announced the opening of its first Massachusetts store, located in the Shoppers World plaza on Worcester Road in Framingham. The store will open doors on Oct. 1. Often referred to as "World Market," the store sells furni- ture, décor, jewelry and accessories col- lected by buyers who travel the globe in search of products, according to the Oakland, Calif., company. World Market operates 270 stores in 33 states, as well as an e-commerce site, www. worldmarket.com. LEOMINSTER — The YMCA of Central Massachusetts has opened its fifth community branch, at 108 Adams St. in Leominster. A 10,000-square-foot health and wellness facility in the building known as "City Plaza Place," the new Leominster Community Branch features state-of- the-art fitness equipment, nationally certified staff and multipurpose space. Services include free child watch, per- sonal training and specialty fitness pro- grams. Founded in 1864, the YMCA of Central Massachusetts today operates branches in Fitchburg, Westborough and Worcester in addition to Leominster. PAXTON – Mary Lou Retelle was inaugurated as Anna Maria College's president at the school in Paxton. Anna Maria trustees selected Retelle as presi- dent in June. She has served as the interim president since last summer, after former president Jack P. Calareso left to become president of St. Joseph's College in Patchogue, N.Y. Retelle, of Worcester, is the first woman to serve as Anna Maria's leader in more than 20 years, and is the first laywoman to lead the Catholic liberal arts college since its founding in 1946. She was chosen from more than 70 applicants, the school said in announcing the decision. LEOMINSTER — Christopher W. McCarthy of Holden has been named president and COO of Fidelity Bank, succeeding current COO John Merrill. Fidelity Bank Chairman and CEO Edward Manzi made the announce- ment in a statement. McCarthy, who has served on the board of directors for the Leominster-based bank, begins his new role Oct. 5. He brings more than 20 years of experience at several com- munity and regional banks, including TD Bank, Enterprise Bank, Banknorth and Safety Fund National Bank, the statement said. Manzi said McCarthy and Merrill will work together during an extended transition period. FITCHBURG — Signet Enterprises of Akron, Ohio, has acquired Publishers Storage & Shipping, which owns a warehouse in Fitchburg. Michigan- based Publishers Storage & Shipping specializes in book storage and order fulfillment for small and mid-size pub- lishers. In addition to the 104,000-square-foot Fitchburg ware- house, it has smaller warehouses in Ypsilanti, Mich., and Ann Arbor, Mich. Signet Chairman Anthony Manna said no employee attrition is planned. WORCESTER — A study conducted by Solar to the People found that REGIONAL BRIEFS >> Continued on next page Verbatim "My administration is always open to big ideas, and I'm happy to sit down and talk to anyone about why they should invest in Worcester." Worcester City Manager Edward M. Augustus Jr., in an interview about the possibility the Pawtucket Red Sox could settle in Worcester, after the team's bid to build a stadium in Providence failed. Source: Telegram & Gazette, Sept. 22 >> "After 12 years of tremendous prog- ress … I have decided that it is time for a new lead- er to step in … ." Frederick H. Eppinger, announcing plans to step down as president, CEO and a director of Hanover Insurance Group in Worcester. He said he would continue to serve in his current role until his successor is appointed. Source: Hanover Insurance Group, Sept. 15 >> "Her name was Bella ... This child, whose very name means "beauty," was murdered." Suffolk County District District Attorney Daniel F. Conley, at a news conference identifying Bella Bond, the 21/2 year old whose body was found on Deer Island in Winthrop nearly three months earlier. Source: The Boston Globe, Sept. 18 >> In Review BRIEFING: FRED EPPINGER'S MARK CENTRALMASS

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