Ravi Vakacherla Joins Provident Bank

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ISELIN, N.J., Aug. 29, 2022 (GLOBE NEWSWIRE) — Provident Bank, a number one New Jersey-based monetary establishment, is happy to announce that Ravi Vakacherla has joined the group as Executive Vice President, Chief Digital and Innovation Officer. This place redefines the Chief Information Officer position and underscores the corporate’s dedication to expertise, innovation, and constructing for the longer term.

In this position, Mr. Vakacherla shall be a member of the Executive Leadership Team and shall be chargeable for the financial institution’s digital initiatives, together with technique, knowledge analytics, innovation, FinTech partnerships, Information Technology and driving the core vendor relationships. In addition, he’ll work carefully with the Executive Leadership Team on advancing the client expertise and creating worth via enhanced digital instruments and platforms, product choices, analytics, companies, and applied sciences, whereas additionally partnering with revolutionary third-party answer suppliers. Mr. Vakacherla may also personal and monitor digital innovation tasks, figuring out and evaluating related alternatives and may have his finger on the heart beat of what’s occurring from a expertise perspective and inside the business.

“I am delighted to welcome Ravi to our Executive Leadership Team,” stated Anthony Labozzetta, President and CEO. “Ravi is highly regarded in his field, he has a collaborative style and approach, and is skilled at bringing people and processes together and creating high performing and unified teams who achieve results,” added Labozzetta.

Prior to becoming a member of Provident, Mr. Vakacherla was Executive Vice President, Chief Transformation Officer with People’s United Bank. Before that, he was chargeable for Product Management, Operations, and Digital at People’s. He brings with him distinctive breadth and depth of expertise serving to to build-out expertise and digital platforms during times of excessive progress. During his 17 years with People’s United, he held management positions of elevated accountability and performed an integral position in main and building-out the expertise basis to help the financial institution’s growth via 12 acquisitions, rising from $9 billion in belongings to greater than $65 billion in belongings.

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Mr. Vakacherla holds a Bachelor’s Degree in Electrical and Electronic Engineering from Jawaharlal Nehru Technological University and a Master’s Degree in Computer Science from Midwestern State University.

Ravi Vakacherla

Ravi Vakacherla, EVP, Chief Digital and Innovation Officer

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About Provident Bank
Provident Bank, a community-oriented monetary establishment providing “Commitment you can count on” since 1839, is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS), which reported belongings of $13.72 billion as of June 30, 2022. With $10.87 billion in deposits, Provident Bank supplies a complete suite of economic services via its community of branches all through northern and central New Jersey, in addition to Bucks, Lehigh and Northampton counties in Pennsylvania, and Nassau and Queens counties in New York. The Bank additionally supplies fiduciary and wealth administration companies via its wholly owned subsidiary, Beacon Trust Company and insurance companies via its wholly owned subsidiary, Provident Protection Plus, Inc. For extra details about Provident Bank, go to www.provident.financial institution or be part of the conversations on Facebook (ProvidentBank) and Twitter (@ProvidentBank).

CONTACT:
Keith Buscio
732-504-9407
Keith.buscio@provident.financial institution

A photograph accompanying this announcement is accessible at https://www.globenewswire.com/NewsRoom/AttachmentNg/25354b85-fb18-47a8-95b2-4817521aabaf



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