Business

Middlesex Savings Bank gets new president

Middlesex Savings Bank, a Natick-based mutual bank, has named Michael G. McAuliffe as president with the expectation that he will take over as chief executive of the 180-year-old institution in April.

McAuliffe, 55, has been the bank’s chief commercial banker since joining Middlesex Savings in 2014.

McAuliffe will take over when John Heerwagen, who has been chief executive since 2007, retires in the spring.

Advertisement

Middlesex Savings has more than $4 billion in assets and about 30 branches in the western Boston suburbs. McAuliffe said he wants to ensure that the bank grows by gaining more customers, expanding beyond its current footprint, or through mergers and acquisitions, if opportunities emerge. But McAuliffe said the bank remains committed to remaining a mutual bank at a time when many Massachusetts banks have gone public.

Prior to joining Middlesex Savings, McAuliffe was a senior vice president at Providence-based Citizens Financial Group.

Deirdre Fernandes can be reached at deirdre.fernandes@globe.com. Follow her on Twitter @fernandesglobe.