Masood will succeed David Fiedler in the position, following Fiedler’s retirement, which is effective March 1, 2016.
“ESL is an exceptional organization, and it will be an honor and privilege to serve as its president and CEO,” Masood stated. “Dave has been a remarkable leader, and during his tenure we have emerged as the largest locally-based financial institution, and the largest provider of consumer banking services. He has been a mentor, a friend, and an inspiration to many of us throughout ESL.”
ESL appointed Masood to his current executive-level post in May 2012, in which he directs the personal banking, business banking, and wealth management lines of business at the organization.
He began his career at ESL in 1991, as a senior financial analyst.
In addition, ESL has achieved significant growth since Fiedler’s term as CEO began in 2003, with increases in assets ($2.6 billion to $5.0 billion), employees (500 to more than 700), and members (about 260,000 to 330,000 worldwide).
Other significant milestones include the launch of business banking, and the opening of the company’s new headquarters in downtown Rochester, in 2010.
“I’m going to miss our employees, and being part of such a high-performing, and well-respected organization,” Fiedler stated. “I’m proud of what ESL has accomplished, and confident I’m leaving the organization in a strong position to continue to grow and prosper. I’m looking forward to enjoying retirement, and remaining actively engaged in our wonderful community.”
Fiedler first joined ESL in 1997, as senior vice president and retail operations manager, after nearly 30 years in financial management at Eastman Kodak Co.
In addition to his position at ESL, Fiedler currently serves on the boards of Frontier Telephone of Rochester Inc., Isoflux Incorporated, the United Way of Greater Rochester, Center for Governmental Research, Genesee Valley Club, and the Rochester Business Alliance.
“Faheem has the experience, knowledge and character we were looking for, his selection was unanimous, and he has the full support of the board of directors,” Candy Obourn, chair of the ESL Federal Credit Union Board of Directors, stated. “While this will begin a new chapter for ESL, it is something we’ve long prepared for in order to make it a seamless transition. Dave has left his mark throughout ESL, setting us up to continue as the premier provider of community banking services in the greater Rochester area.”
Masood has received a bachelor’s degree in economics from Allegheny College, and earned an MBA from the SUNY College at Buffalo. He currently serves on the board of directors of Rochester Regional Health Systems, Geva Theatre Center, and the Rochester Downtown Development Corporation.