Dorothy Savarese, president and CEO of Cape Cod Five Cents Savings Bank, has been named 10th on American Banker’s annual list of the “25 Most Powerful Women in Banking.” This is her sixth consecutive year on the list, which aims to recognize the impact that female leaders have made on their companies, communities, and the financial services industry.
According to a press release, this year, the magazine highlighted Ms Savarese’s bipartisan work with legislators, regulators, and the administration as chair of the American Bankers Association (ABA) in advocating for common-sense financial regulatory reforms, tailored by size and complexity of the institution, which would allow banks to focus on serving the financial needs of consumers, borrowers, and businesses.
“As chair of ABA, I had an opportunity to draw attention to the fact that a healthy and diverse banking industry can help create jobs and empower individuals to achieve their financial goals. In particular, I was able to communicate the criticality of community banks like ours, which provide more than half of all loans to small businesses with fewer than 50 employees, which account for nearly 95 percent of all businesses in the U.S. economy,” Ms. Savarese said. “Throughout my 24 years at Cape Cod Five, my team and I have spoken with thousands of customers and members of the community about their unique needs, and we will continue to work with them and on their behalf to ensure that they are able to achieve all of their financial goals. It is these people and businesses, and the commitment of our wonderful team here at Cape Cod Five, that fuel my passion for the industry and all the good it can do.”