Legacy Bank division installs new CEO

provided by Legacy Capital

Jerry Abrahams is now serving as CEO of Legacy Capital, a division of Springfield-based Legacy Bank & Trust Co.

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Last edited 1:21 p.m., Aug. 7, 2024 [Editor's note: A new CEO has been hired at Legacy Capital. An earlier version of the story indicated the new CEO was at Legacy Bank.]

A new CEO has been installed for Legacy Capital, a division of Springfield-based Legacy Bank & Trust Co.

Jerry Abrahams, who last year joined Legacy Bank as head of corporate strategy, has been named president and CEO of Legacy Capital, according to a news release issued yesterday. Legacy Capital's website indicates he started in the role during June.

"I look forward to contributing to the dynamic next chapter of Legacy Capital’s future and working closely with our talented team and our colleagues at Legacy Bank & Trust," Abrahams said in the release. "We have great momentum even in this difficult market, as we are growing both our staff and our pipeline."

Prior to serving as head of corporate strategy at Legacy Bank for a year, Abrahams was CEO of ORIX Commercial Mortgage Services Inc., the holding company of Lument. His career also has included overseeing Boston Financial Investment Management.

"The addition of Jerry to our Legacy Capital team reflects the company’s continued commitment to the growth and success of this business,” said John Everett, Legacy Capital board chair and Legacy Bank president and CEO, in the release. “Legacy Capital is an important part of our vision to better serve our multifamily customers. Legacy Bank & Trust is a leader in construction and permanent lending for affordable and market rate borrowers, and Legacy Capital provides additional financing capabilities for our customers.

"Jerry will help us realize this vision."

Former Legacy Capital CEO Brett Magers, who also was an executive at Legacy Bank, exited earlier this year amid an investigation into "employee-related allegations," according to past Springfield Business Journal reporting.