Groton Banker Graduates From Industry’s Ivy League Program

-Rich Balestracci Earns Diploma from American Bankers Association Stonier Graduate School-

Chelsea Groton Bank is recognizing the outstanding accomplishment of Rich Balestracci, VP, Commercial Loan Officer, who recently graduated from the American Bankers Association’s Stonier Graduate School of Banking at the University of Pennsylvania. The preeminent three-year program is in partnership with the world-renowned Wharton School. Graduates receive both a Stonier Diploma and a Wharton Leadership Certificate.

“Stonier has given me an unparalleled education from the best in the financial services industry, as well as the chance to exchange information and ideas with my peers,” said Balestracci. “Wharton delivers the depth of knowledge needed to address the realities of leadership in today’s volatile market.”

Now in its 84th year, Stonier is the first ABA graduate-level school of banking for bank executives. The ABA-Wharton partnership is the only one of its kind, combining Wharton’s cutting-edge research, leadership insights and top faculty with the ABA Foundation.

“Rich is a key member of Chelsea Groton Bank and his training at Stonier will help us identify the challenges our community faces and create permanent solutions,” said Carolyn Welch, SVP, Commercial Lending Manager of Chelsea Groton Bank. “The Bank invests in continuing industry education for all of our employees as their knowledge enriches our team in addition to their personal career aspirations.”

The Stonier program emphasizes strategic planning, financial management, and leadership. The Capstone Strategic Project is the culminating component of the program and often has a career-changing impact. The student identifies a problem or opportunity facing their bank and proposes a course of action, including an analysis of alternatives, a financial analysis, and an implementation plan. The graduation ceremony was held in June 2019 at the University of Pennsylvania.

Rich is involved with many community organizations such as the Stonington Economic Development Commission, as the Treasurer and Board Member of the Stonington Community Center, as a Tee Ball Coach with the Pawcatuck Little League, and as a Loan Committee Member for the Southeastern Connecticut Enterprise Region (SECTER).

Rich and his family reside in Pawcatuck.

 

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