executive chair, Cape Cod 5; and President of the Board of Directors, Cape Cod Climate Change Collaborative
Dorothy Savarese is Executive Chair of the Cape Cod Five Mutual Company, the sole shareholder of Cape Cod 5, an independent state-chartered financial institution founded in 1855. Cape Cod 5 has grown to over $4.7 billion in assets and employs 500+ people throughout Cape Cod, the Islands and Southeastern Massachusetts. Dorothy is chair of the Board of Trustees of Cape Cod 5.
Dorothy started as a commercial lending officer at Cape Cod 5 in 1993, was named chief operating officer in 2004, and president and chief executive officer in 2005. The former chair of the Massachusetts Bankers Association, the American Bankers Association, and the Cape Cod Chamber of Commerce Board, Dorothy was appointed by the Federal Reserve Board to serve as the president of their Community Depository Institutions Advisory Council (CDIAC) for a second term in 2021 after having served on the council as president in 2020 and as a member in 2019. She also served as chair of the Community Depository Institutions Advisory Council (CDIAC) for the Federal Reserve Bank of Boston. She was appointed to represent the First District on the Federal Reserve Board Community Depository Advisory Council. Dorothy is president of the Board of Directors for the Cape Cod Climate Change Collaborative and was recently appointed by Governor Baker to the Commission on Clean Heat, the nation’s first of its kind. In 2019, Governor Baker appointed Savarese to the Massachusetts Economic Development Planning Council, made up of key business leaders, academics, and health care representatives from across the state. She is currently also a member of The Clearing House’s Real Time Payments Advisory Committee. She is a former secretary and member of the Board of Cape Cod Community College and has served on the American Bankers Mutual Insurance Ltd. Board and the FDIC Advisory Committee on Community Banking. She has served on several nonprofit boards throughout the community including the Cape Cod Symphony Orchestra, the Regional Employment Board of the Cape and Islands and the Housing Assistance Corporation.
In 2021, Dorothy was named one of the 25 Most Powerful Women in Banking by American Banker magazine for the tenth consecutive year.
Dorothy holds an MBA and an HDCS from Suffolk University.