Torrance Childs. Photo courtesy of Berkshire Bank
Berkshire Bank scored another high-ranking hire from the former Silicon Valley Bank.
The Boston-based bank announce Thursday it had hired Torrance Childs as its new chief commercial deposit officer.
Childs had been president of private banking at Boston Private Bank & Trust before it was bought by SVB in 2021. He remained with SVB through its failure and purchase by North Carolina-based First Citizens Bank as head of private banking at SVB Private through August 2023, according to his LinkedIn profile. Shortly after Childs’ departure, First Citizens combined the top-level management ranks in its wealth business and SVB Private.
“I’m excited to join Berkshire Bank to support the growth and success of our clients, employees, shareholders and communities,” Childs said in a statement. “Berkshire is deeply committed to delivering a best-in-class client experience and I look forward to working alongside the talented team to continue expanding our capabilities.”
His background in private banking, which typically serves high-net-worth individuals, will come into play in his new role at Berkshire. The bank said in its announcement that Childs “will focus on delivering personalized service, customized solutions and an integrated platform across commercial and private banking” and “work closely” with Berkshire’s private banking team, while reporting to Jim Brown, senior executive vice president and head of commercial and private banking.
“Torrance and I have worked together for many years before joining Berkshire Bank,” Brown said in a statement. “He is a well-respected leader, an outstanding partner, and cares deeply about clients and employees. Torrance’s record over the years of driving strong results will benefit Berkshire’s clients, employees, and shareholders across New England and New York. We are thrilled to welcome him to the team.”
Childs is the second SVB Private executive to make the jump to Berkshire as the bank has sought to build out its wealth-management arm. Last July, the bank hired former SVB Private managing director David Coughlin to join its private banking arm as a senior vice president.
To support this growing private banking team, the bank said it plans to relocate one of its Boston branches to the One Post Office Square tower in the Financial District. The bank currently has a location on the opposite side of Post Office Square from the tower. The new, two-floor, full-service branch will serve commercial, private banking, wealth management and retail clients and will open in 2025.
