Ledyard Appoints Josephine Moran as CEO, Successor to Retiring CEO, Kathy Underwood

Kathy Underwood, CEO of Ledyard Financial Group and Ledyard National Bank, announced at the Company’s Annual Meeting of Shareholders on May 18^th that she will be retiring on July 3, 2023. Josephine Moran, President of Ledyard, assumed the role of President & Chief Executive Officer effective May 18, 2023. Ms. Underwood will continue to serve on Ledyard’s Board of Directors.

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(L to R): Kathy Underwood and Josephine Moran of Ledyard (Photo: Business Wire)

Ms. Moran joined Ledyard on January 31, 2022, as President and Chief Banking Officer. In the newly created role, and as a member of the bank’s Executive Team, Josephine oversaw financial center banking and product development, as well as bank-wide operations, IT, human resources, and compliance. In her time with Ledyard, Josephine has created efficiencies and initiatives that focus on revenue generation and profitability. Ms. Moran was elected to the Ledyard Board of Directors in January. Ms. Moran’s promotion to CEO was part of a well-developed succession plan several years in the making.

Bruce King, Ledyard’s Board Chair , stated, “We are fortunate to have a talented and experienced leader like Josephine to move into the CEO role. Josephine’s strategic and operational capabilities have been demonstrated consistently over her many years in the banking industry as well as over the past year with Ledyard. She has already played a pivotal leadership role in driving innovation and building an exciting plan for Ledyard’s future growth. We believe Josephine’s energy, vision, inspirational leadership style and earned respect of our employees make her the right choice to take Ledyard forward.”

Prior to joining Ledyard, Ms. Moran was Executive Vice President, Chief Corporate Services and Consumer Lending Officer at Provident Bank, as well as EVP, Head of Retail. Ms. Moran has held various Executive Leadership positions in several organizations throughout her career including Wachovia /Wells Fargo, Santander, and Webster Bank. She holds an Executive MBA from the University of New Haven as well as an M.S. in Finance and Financial Services. She attended the Fashion Institute of Technology in New York where she received her B.S. in Marketing and Management. She holds Series 7 and 63 licenses and has a CFP certificate from Quinnipiac University. Additionally, Josephine serves on the NH Bankers Association’s Legislation Committee, working to clarify banking issues, preserve policies and protect the interests of members.