The Board of Directors of the Peoples Trust Company is pleased to announce that Frank J. Cioffi has been named Chairman of the Board of Directors. The Board of Directors elected Frank as Chairman of the Board via a unanimous vote of approval at their regularly scheduled Board meeting on Monday, August 17, 2020. Frank was first elected to the Peoples Trust Company Board in 2008 and also serves on the bank’s Asset Liability Management /Loan Committee. He is the current President/CEO of the Greater Burlington Industrial Corporation (GBIC), the regional economic development corporation serving Chittenden County. At GBIC, he oversees economic development programs and services, staff and Board operations and manages a diversified portfolio of industrial and commercial properties owned by the corporation. His previous work experience includes time as the Commissioner of the Vermont Department of Economic Development and Owner/Managing Broker of Cioffi Real Estate in St. Albans.
Frank’s extensive experience in economic development, real estate and community leadership brings valuable insight to the Bank’s Board. His deep family roots in Franklin County along with his knowledge of the local marketplace align well with the Peoples Trust Company’s mission to serve the Northwestern Vermont region.
Peoples Trust Company President/CEO Thomas Gallagher said: “We are fortunate to have a Board member and now Chairman that has such a strong commitment to this organization, our mission and the communities we serve. Frank Cioffi has a proven skillset with the experience and leadership qualities that seem tailored for the position”. He further stated: “the bank’s shareholder base has been well served by Frank’s participation and valuable knowledge since he joined the Board of Directors twelve years ago and that will continue now in the leadership position of Chairman.”
Frank succeeds his father, Robert A. Cioffi, as Chairman of the Peoples Trust Company. Robert served on the Banks Board of Directors for over 30 years and held the position of Chairman for nearly 29 years. Robert passed away on Wednesday, July 22nd 2020 at which time Frank J. Cioffi became interim Chairman.