Former New Canaan First Selectman Rob Mallozzi Joins Bankwell

Days after leaving office, New Canaan’s popular former first selectman announced that he’ll continue to work in town after accepting a position with one of its most prominent and community-oriented local businesses.

First Selectman Rob Mallozzi. Contributed

Rob Mallozzi, who served in New Canaan’s top elected office for six years, is starting a job with Bankwell as a senior vice president and director of business development.

“I am as excited as can be to be joining the team at Bankwell,” Mallozzi told NewCanaanite.com.

“I’ve known many of the folks there for a number of years and have also witnessed all they have done in New Canaan during my years as first selectman—they are a true community asset. I know they put that same emphasis in the other towns they are in and I look forward to communicating that sense of responsibility and partnership to the many people I’ll be interfacing with.”

He added: “I could not choose a better place to call home than Bankwell and look forward to what lies ahead for me and for the bank.”

After very narrowly losing his party’s backing for a fourth term at a caucus in July, Mallozzi to the surprise of many declined to pursue a primary runoff versus his opponent.

In joining Bankwell, Mallozzi—remembered by many in town for his family’s longtime Park Street business, Bob’s Sports—becomes part of a locally founded company on the rise. Named by S&P as one of the top 100 best-performing community banks in the nation last year, Bankwell in October reported record-high third quarter net income of $4.3 million (55 cents per share) and a fourth-quarter dividend.

Bankwell CEO Chris Gruseke at the time said that the bank’s “performance driven culture” resulted in a year-to-date annualized return on average assets of .92 percent and return on average equity of 10.27 percent.

Bankwell also is known in town for its generous sponsorship of countless community events and causes, including scores of nonprofit organizations, summer concert series at Waveny and Caffeine & Carburetors.

Of Mallozzi’s hiring, Gruseke in a press release said he’s known the former first selectman for 25 years “and he personifies community involvement.”

“Rob’s values and commitment to the community are thoroughly in line with a successful community bank such as Bankwell,” Gruseke said in the statement. “Rob’s experience in local government, both here in New Canaan and with his peers throughout Connecticut, coupled with his first-hand experience as a local business owner, make him the ideal person to lead Bankwell’s business development efforts as we continue to expand the reach of our franchise.”

A New Canaan resident, Mallozzi has been married for 27 years to his wife, Elizabeth, and has two children. He earned a bachelor’s degree from the University of Vermont.

As first selectman, he served as chairman of the New Canaan Board of Finance, Fairfield County CEO Representative to the Department of Homeland Security and Emergency Management, Ex-Officio of the New Canaan Town Council, and Secretary and Interior Firefighter of the New Canaan Fire Company. He has also served on the boards of the Power House Theater/Town Players, New Canaan Library, Waveny Health Network, New Canaan Nature Center and Carriage Barn Arts Center.

Prior to his career in public service, Mallozzi was owner of Bob’s Sports, Inc. for more than 20 years and a partner in Caroline Realty, LLC. Among other organizations, he has been a member of Rotary, Emergency Management and the New Canaan Chamber of Commerce.