MANASQUAN, NJ (December 2, 2013) – At its October 2013 board meeting, Manasquan Savings Bank officially appointed the newest addition to its Board of Directors, Theodore F. Raffetto. A well-regarded corporate executive and entrepreneur, Mr. Raffetto is Managing Partner and CEO of Broad Data Services, a NJ-based company. He also brings deep experience with international organizations and innovative start-ups, and the bank looks forward to leveraging his wide-ranging business perspective.
“Ted understands business from both the enterprise and entrepreneurial perspective, and knows how important it is to innovate based on customer needs,” says President and CEO James S. Vaccaro. “He will be an invaluable addition to our governance team.”
Early in his successful career, Mr. Raffetto worked for Verizon (Bell Atlantic) for more than 20 years in senior positions including Group President for Business Services, CEO of the Data Solutions Group and Vice President of Global Accounts. He then joined then start-up Calix, where he built and led the Major Accounts team responsible for selling to the largest U.S. carriers. Calix went public in March of 2010.
Ted was also initial Chairman and a past member of Vanco’s Board of Directors, from their initial IPO in the UK to their sale to Reliance in May 2008. There, he served as CEO of U.S. business from 2003-2006. He recently served as a U.S. board member and advisor to the Global CEO of Reliance Globalcom, an India-based company, and is past President of the America’s for the organization.
“I look forward to using my U.S. and international business experience to assist the bank in paving its way forward,” Raffetto says. “From continuing to grow commercial banking services to aligning solutions to the needs of the next generation, strategic guidance from the Board of Directors is intended to formulate a path that further enhances the customer experience, all while maintaining the personal touch that Manasquan Savings Bank is known for.”
Raffetto holds a B.A. in Government and Law from Lafayette College and an M.B.A. in Marketing from Monmouth University. He also attended executive management and leadership programs at Wharton.
Like many in the region, family history plays a role in Raffetto’s relationship with the bank.
“My grandfather came to Manasquan by way of Italy around 1907, and when he opened his business, Manasquan Savings Bank was there to help. My family has been banking here ever since,” he says.
A Manasquan native, Raffetto and his wife raised their three children in nearby Wall. There, he helped found the Wall High School Boys Soccer Club, and also served on the Board of Wall High School Business and Finance Academy. Other civic engagement has included work with the Monmouth University Business Council, the Lafayette College Leadership Council and The Cancer Institute of NJ, where he was on the Board. With a new home in the planning stages in Manasquan, Raffetto notes that he looks forward to returning to his roots – “although I never really left,” he says.
About Manasquan Savings BankManasquan Savings Bank was founded in 1874 and has assets over $860 million. The bank will be celebrating its 140th anniversary in 2014. In addition to the Wall Township administrative offices and branches, locations include Manasquan, Bay Head, Howell Township, Spring Lake Heights, Point Pleasant and Brick. They are proud supporters of several charities and organizations including the FoodBank of Monmouth and Ocean Counties, the Big Brothers Big Sisters of Monmouth and Middlesex Counties, the United Way of Monmouth and Ocean Counties, and the Monmouth County Girl Scouts