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Belmont Savings Announces Promotion of Michael Carotenuto

Posted on March 4th, 2015 at 2:24 PM

BELMONT - Belmont Savings Bank announced today that Michael Carotenuto has been named Senior Vice President Director of Internal Reporting and Treasury. His duties include the internal dissemination of operational statistics and business intelligence reporting and analysis.

Since joining Belmont Savings in October 2011, Carotenuto has been an invaluable resource in the areas of asset/liability management, liquidity management and investment management. His responsibilities include the development of budgets for each department, creating a system of profit and loss reporting for all business lines.

“Michael brings a strong track record of collaboration and intelligence in achieving bank-wide initiatives,” said Bob Mahoney, President and CEO of Belmont Savings. “As Belmont Savings continues to grow, his role managing and reporting our budgets to the Board and others will prove instrumental.”

As the Bank’s Director of Internal Reporting and Treasury, Carotenuto is responsible for coordinating the production and dissemination of key business metrics and reports across bank departments.

“I am thrilled about the opportunity to further contribute to the Bank,” said Carotenuto. “Belmont Savings is a growing regional player, and it will be a privilege to sustain its momentum as the Director of Internal Reporting and Treasury.”

Previously, Carotenuto served as an accounting policy advisor for Peoples United Financial.

Carotenuto graduated from Bryant University, with Bachelors in Accounting and Computer Information Systems. He currently resides in Marblehead.

About Belmont Savings Bank

Belmont Savings Bank is a $1.4 billion, full-service Massachusetts savings bank dedicated to quality, convenience, and personalized service. The Bank builds on a proud history of financial strength and a tradition of active involvement in the community. Belmont Savings Bank provides a full range of banking services for professional commercial real estate investors, developers and managers as well as individuals and local small business owners through two full-service offices in Belmont, one fullservice office in Watertown, and three full-service Shaw’s supermarket branches in Waltham, Newton and Cambridge. Find out more information by visiting: https://www.belmontsavings.com or Like Belmont Savings on Facebook. Member FDIC. Member DIF.

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