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Massachusetts Bank Moves Into Boston To Target Wealthy Clients
Harriet Davies
2 May 2013
Massachusetts-based Wellesley Bank, which focuses on the high net worth and business markets, is planning to open a Boston branch in the fourth quarter of this year. The bank’s first Boston branch will be at One Federal Street and will occupy 3,000 square feet of space. It will offer wealth management services and personal and business banking. Henry Connors, who has been with the bank for 15 years and is a senior vice president there, will manage the branch. “We have been actively looking during the past year to establish a presence in Boston as a means to more effectively serve our clients and further increase the significant growth we’ve experienced as people leave large financial institutions and seek stable, more personalized banking and wealth management services,” said Thomas Fontaine, the bank’s president and chief executive. The bank has three other branch offices, all of which are based in Wellesley. Its wealth management subsidiary is called Wellesley Investment Partners.