CBERA Selects Chantal Bray as President & CEO

In anticipation of the retirement of its longtime President & CEO Frank Maloney, The Cooperative Banks Employees Retirement Association (“CBERA”) selected S&W to manage the search and selection process for its next chief executive.

Formed by the Massachusetts state legislature in 1946, CBERA is an association that is responsible for the administration and management of the retirement plans of over 5,000 participants employed by almost 40 Massachusetts-based community banks. In support of the association’s member employers, CBERA services both defined benefit (pension) and defined contribution (401k) plans. CBERA’s mission is to foster the financial well-being and security of the employees of this important industry sector. Throughout its existence, CBERA has distinguished itself by providing exceptional customer service and personalized education and support to both employers and participants. As of the end of 2021, CBERA managed over $1.2 billion in assets under management across its plans.

At the completion of the CEO search process, CBERA’s nominated Selection Committee selected Chantal Bray to succeed Frank Maloney as CEO. Originally from Canada, Ms. Bray’s diverse career has been primarily driven by a passion for the security that strong retirement plans provide for people and for their families. She began her career as a pension actuary consultant and led meaningful business lines for global financial services organizations ING and HSBC in Japan, South Korea, and England. Most recently, Ms. Bray spent the past 3 years with MassMutual in Boston in a senior enterprise risk role. She and her family live in greater Boston.

“Chantal’s intellect, curiosity, passion, and caring are contagious. She’s truly an exceptional talent. We’re beyond thrilled that the timing of Frank’s retirement after so many years at the helm of CBERA coincided with her desire to lead a local firm. I’m excited to see what the future holds for CBERA and its member banks under her leadership.” Cameron Boyd, Managing Partner, Financial Services Practice.