Ciolino Joins Cape Ann Savings Bank


Cape Ann Savings Bank announces the recent hiring of Rick Ciolino in the role of Trust Investment Officer for the Bank’s Trust & Financial Services Department.

Rick comes to Cape Ann Savings Trust & Financial Services, with over 34 years’ experience in the financial services industry, with 25 years devoted to specializing in portfolio management for trusts, private clients, and charitable organizations.  He started his career in the mutual fund industry as a fund accountant and budgeting analyst.  After obtaining his MBA, Rick spent five years as an equity research analyst, analyzing S&P 500 companies as a member of the investment group of Derby & Company, a small pension firm, then was employed by Cape Ann Savings Trust & Financial Services from 2001 to 2008.  Before rejoining Cape Ann Savings Bank, Rick held the position of Vice President and Investment Officer at First Financial Trust, in Wakefield, MA.  He received a Bachelor of Arts degree in Economics, with a concentration in Finance from Framingham State University, followed by earning a Master of Business Administration degree from Suffolk University, Sawyer Business School.

Bank President, Marianne Smith states; “I am excited to have Rick rejoin the Cape Ann Savings Bank Trust and Financial Services Department.  Much like me, Rick previously worked for the Cape Ann Savings Bank, left to expand upon his knowledge, and has now come full circle.  Rick’s expertise in portfolio management and asset allocation is critical to the role of the Trust Investment Officer.  We are fortunate in Rick to have someone that is both personally and professionally dedicated to the Cape Ann Community.  I look forward to working with Rick for many years to come.”

John T. Brennan, Senior Vice President, Trust & Financial Services follows President Smith’s sentiments with; “Rick brings years of investment experience and knowledge to our team.  We are thrilled to have someone of his caliber to round out our group.  We are further pleased that he has chosen to continue his career in Gloucester, where he knows the community and has deep ties.”

Rick is active in volunteerism and enjoys working in the community.  He serves on the Board of Commissioners of Trust Funds for the City of Gloucester, is a member of Seaside Sustainability and Beverly Rotary.  The Gloucester native enjoys running and biking (TeamGloucester) and resides in Gloucester with wife and three children.

rick ciolino, cape ann savings bank, derby & company, financial services department, bank’s trust