Provident in NJ hires first chief digital officer

Provident Financial Services in Iselin, N.J., has hired an outsider to serve as its first chief digital and innovation officer. 

The $13.7 billion-asset company said in a press release Monday that Ravi Vakacherla had accepted the post, which is a recasting of the bank’s chief information officer role. He also joined Provident’s executive leadership team. 

Vakacharla is responsible for digital initiatives, including strategy, data analytics, innovation, fintech partnerships and IT. He will also monitor digital innovation projects. 

Vakacharla “is highly regarded in his field, he has a collaborative style and approach and is skilled at bringing people and processes together and creating high-performing and unified teams who achieve results,” Anthony Labozzetta, Provident’s president and CEO, said in the release. 

Vakacherla previously served as chief transformation officer at People’s United Financial, which was recently sold to M&T Bank.