The gift represented a permanent legacy of the bank that created the American Savings Foundation, and an investment in Banking and Finance as a career for future generations. It was announced on the same day that American Savings Bank merged with Banknorth (now TD Bank).
Establishing the Endowed Chair at Central had tremendous meaning for everyone involved with American Savings Bank and the Foundation it established, especially for Robert T. Kenney, chairman of the Bank, and chairman of the Foundation’s board of directors.
A primary goal of establishing the Chair was to provide focused educational opportunities for students who have the interest and potential to pursue careers in the banking and finance industries. The focus was to connect academic programs at Central to current practitioners in banking, who provide practical training and bring real-world experience to the classroom. The result is solid, practical career preparation for students with an industry that offers tremendous growth opportunities for Connecticut students. Since it was established in 2003, the Chair has grown and expanded in both scope and impact, and now also oversees the University's innovative Banking Excellence Certificate program.
The Board of Regents for the Connecticut State Colleges & Universities system has confirmed the appointment of Michael Dicastro, JD, as the next American Savings Foundation, Endowed Chair of Banking & Finance at Central Connecticut State University.
A veteran of academics, banking, and FinTech, Mike brings a unique combination of experience to the role. He has been member of the faculty at Central for 12 years where he serves as Entrepreneur in Residence and Chair of the School of Business Advisory Council. Mike has been a guest lecturer at Yale University School of Management and a Moot Court Judge at Western New England University School of Law. Mike also has a long career working in banking, finance, and fintech. He served as CEO of Continuity, a Financial Technology (FinTech) company. He served as the Senior Vice President & Chief Marketing Officer of both Open Solutions Inc. and COCC, and as President and CEO of the Central Connecticut Chambers of Commerce. Nicastro also has prior experience in the banking industry with both Bristol Savings Bank and Citicorp and served on the board of the former Simsbury Bank & Trust (SBTB).
The gift also endowed an annual Distinguished Lecture in Banking and Finance at Central. Guest speakers have included Economist Laurence J. Kotlikoff from Boston University; Economist James K. Galbraith from the University of Texas at Austin; Thomas R. Keene, Editor-at-Large for Bloomberg News; and Eric Rosengren, Chairman of the Boston Federal Reserve. Recent lectures have featured rich panel discussions on Diversity, Equity and Inclusion; and the Future of Fintech – Financial Technologies in the Banking World.
George Hermann, Central alumnus and Windsor Federal Board Chair, moderator, with Thomas Curry, former Comptroller of the Currency, and James Ballentine, principal of Ballentine Strategies
Together with Lisa Frank, Dean of the School of Business, and her team, the chair works to present the annual American Savings Foundation Distinguished Lecture featuring timely topics. In 2023, the program entitled "Accelerating Trends in Bank-Fintech Partnerships" was presented to an audience of approximately two hundred student, faculty, staff, government, and banking industry attendees. In 2024, the program titled “Fallout from the Silicon Valley Bank Failure" offered legislative, regulatory and industry perspectives on how the March 2023 collapse of Silicon Valley and three other banks occurred, and outlined steps necessary to avoid a recurrence.
Past Central Connecticut State University Chairs in Banking and Finance
- 2006 Brian Charlebois – Former Senior VP of Commercial Lending at United Bank.
- 2013 Peter J. Sposito - Former President and CEO at Bankers' Bank Northeast
- 2015 Howard Pitkin – former Commissioner of the Connecticut Department of Banking.
- 2017 Richard A. Leone – President of COCC
- 2022 Martin Geitz - Former Chairman of the Federal Home Loan Bank of Boston; former President & CEO at Simsbury Bank