The Provident Bank Appoints Barbara Piette to Board of Directors

to Strengthen New Partner Pipeline

 

(Portsmouth, N.H., January 15, 2020) – The Provident Bank today announced the appointment of a new director, Barbara Piette, bringing more than 30 years of financial services experience to the Board as the Bank poises for growth following its second-step conversion and related stock offering.

 

Barbara Piette, the newest member of The Provident Bank’s Board of Directors, is currently a Managing Principal of Knightsbridge Advisers, co-heading this SEC-regulated venture capital fund of funds. At Knightsbridge, Barbara is actively involved in all aspects of portfolio management, including all investment due diligence and decision-making processes. In addition to Knightsbridge, Barbara works as an advisor to five emerging venture capital firms: Tera Ventures, focused on born-global digital startups; Hyperplane VC, focused on AI; the Material Impact Fund, focused on materials; _Underscore, focused on the cloud; and Will Ventures, focused on sports technology. She also advises several early stage technology companies spanning industry sectors such as robotics, blockchain enterprise software, and cybersecurity. Before joining Knightsbridge, Barbara spent more than twenty years as a venture capitalist, holding partner positions with both Charles River Ventures and Schroder Ventures, co-founding Schroder Ventures Life Sciences.

 

“Gaining a Director with the breadth of knowledge and experience that Barbara Piette brings is a huge win for The Provident Bank,” said Dave Mansfield, CEO. “Barbara’s venture capital roots, corporate Board experience, and insight to the newest advancements in fintech, align perfectly with the Bank’s highly focused and innovative strategies. Barbara will be a valuable contributor to the Board as we continue to mindfully and intentionally build, expand and develop our products and services,” he said.

Barbara received an MBA with honors from Harvard Business School and holds a BS summa cum laude from Boston College where she graduated first in her class. She serves as a Board Member of the Concussion Legacy Foundation, aimed at making sports safer, and as an Overseer of Boston Children’s Hospital. She is a member of the Massachusetts Women's Forum and previously served on the boards of the Koch Center for Cancer Research at MIT, the Alliance for Advancement and Diversity in the Sciences, and the Harvard Business School Association of Boston.  She has been an annual judge for the HBS New Ventures Competition for over twenty years. 

 

“Commercial community banks provide a hugely important role in the U.S. economy,” said Barbara Piette. “Banking as we know it is facing disruption from multiple fronts; and the Provident is led by an extraordinary, forward-looking team which embraces these challenges thoughtfully and decisively.  I am looking forward to working with the team to partner with premier fintech companies and support underserved markets and thoughtful growth,” Piette said.

For more information, visit theprovidentbank.com.

 

About The Provident Bank
The Provident Bank, a subsidiary of Provident Bancorp, Inc. (NASDAQ: PVBC), is an innovative, commercial bank that finds solutions for our business and private clients. We are committed to strengthening the economic development of the regions we serve, by working closely with businesses and private clients and delivering superior products and high-touch services to meet their banking needs. The Provident Bank has offices in Massachusetts and New Hampshire. All deposits are insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).