Joel Brown retires as Pacific Bank president
BY MARY LANCASTER INDEPENDENT WRITER
After leading Pacific National Bank as its president for seven years, Joel Brown officially retired last Thursday to spend more time on community commitments, enjoying hobbies, the island and family.

GENE MAHON PHOTO Joel Brown

"I'm just moving on to do more things I want to spend time on," Brown said on Monday. "I want to stay here and enjoy the island a little more. I'm not going to be idle. There are some interesting challenges out there I'll be looking into that I just haven't made a decision on. It's a big change - I've been in banking for a long time."

Brown, 59, currently serves as President of the Nantucket Rotary Club and has been on the boards of The Children's House, A Safe Place, the Nantucket Boys and Girls Club, the Chamber of Commerce and as Incorporator at Nantucket Cottage Hospital. Recreationally, he said he likes being on the water and outdoor activities such as golf. He plans to find more opportunities to be with his son and grandchildren who live on the mainland as well as with other family scattered across the country. But the decision to step down was not made in haste.

Gwen Dadoly, Cape Cod and the Islands Market President for Bank of America., has been working with Brown and overseeing Pacific Bank's community investments as well as investments made by other regional community banks, and will continue in that role. COURTESY BANK OF AMERICA

In 2000, Brown moved to Nantucket from Bermuda where he was in banking, and said he has worked with other banks associated with Bank of America, which became owner of Pacific National in 2004 through its acquisition of Fleet Bank. Brown explained that the Bank of Boston purchased Pacific National in 1997 and took steps to rebrand it so that its image was similar to other Bank of Boston institutions.

That action did not sit well with Pacific Bank's staff or customers, however. Over the next couple of years the shifts included loss of Pacific Bank's former president. When Fleet Bank absorbed Bank of Boston it sought to stabilize the president's position as well as retain Pacific Bank's image. In a search for someone to fill the top role who had familiarity with small communities and a diverse banking background, Brown was offered the job and decided to take it and move here.

Bank of America has no current plans to refill Brown's position, according to Ernie Anguilla, head of media relations for Bank of America's northeast region. Anguilla explained that Gwen Dadoly, Bank of America's market president for the Cape and Islands with an office based in Yarmouthport, has for some time been working with Brown and overseeing Pacific Bank's community investments as well as investments made by other regional community

banks, and will continue in that role. I