Essex Bank Announces New President & CEO

Essex, CT – The Board of Directors of Essex Bank announced this week that executive vice president and Chief Operating Officer Lynn Giroux will become president and CEO when Diane Arnold retires in August. 

The board in a news release said Giroux, in addition to taking on Arnold’s role, will serve on the boards of Essex Bank and Essex Financial Services, Inc.

Essex Bank Board of Directors Chairman Douglas Paul said the board conducted extensive discussions to select a successor for Arnold, whom he described as “a very accomplished and exemplary leader.” 

Arnold, who will have served as CEO for five years when she retires, oversaw steady growth in deposits and loans, improved technology, developed leadership and rebranded the bank in time for its 175th anniversary celebration. 

Paul lauded Giroux for the “broad experience, foresight and leadership skills” she brings to the position as Arnold’s successor. 

Giroux began her banking career in 1983, gaining experience in branch banking, lending, and operations. She joined Essex Bank in 1999 as Vice President of Human Resources and Branch Administration and has since advanced to her current role, which also includes oversight of Deposit Operations, Loan Administration, IT, Compliance, Marketing, and Facilities.

The board said Giroux was instrumental in leading and developing the customer-facing and customer-support technology at the bank, expanding its geographic footprint by opening branches in Madison and Chester, fostering the Bank’s talent pipeline, instituting cash management products for the growing commercial portfolio and supporting community outreach initiatives. 

Giroux earned a bachelor’s degree in English from the University of Vermont. A graduate of the New England School of Banking and a 2014 recipient of The Commercial Record’s Women of FIRE award, she has shared her expertise on numerous banking panels over the years. She has been an active volunteer in both the shoreline and banking communities for decades.

Giroux described herself as deeply honored to accept the role. 

“As a longtime advocate of community banking, I believe in the power of local institutions making a meaningful difference in the lives of our neighbors and the vitality of our region,” Giroux said. 

Arnold welcomed the announcement. 

“We have worked closely together for many years and I look forward to a smooth and successful transition,” she said.