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KLR Executive Search Group Places Senior VP & CIO at Salem Five Bank

March 12, 2019

KLR Executive Search Group, a national retained executive search firm, is pleased to announce the successful appointment of Raj Velmurugan, Senior Vice President & Chief Information Officer at Salem Five Bank.

Mr. Velmurugan is an experienced CIO and a digital technologist with a proven track record in driving and delivering business value of IT through innovation and technology transformation. Bringing more than 20 years of experience to his role at Salem Five Bank, he is responsible for delivering all aspects of the technology solutions aligned with the Bank’s strategy.

Prior to joining Salem Five Bank, Mr. Velmurugan was the Senior Director, Digital IT & Chief IT Architect for Bose Corporation where he drove the digital technology strategy and execution for their global sales, marketing, and retail divisions.

We have trusted KLR Search Group with our executive searches, which are not always the easiest positions to fill. It is KLR’s unending dedication and commitment to finding us the perfect candidates that makes them a true partner of Salem Five Bank. -Helen Topor, Senior Vice President, Director of Human Resources, Salem Five

About Salem Five Bank

Salem Five Bancorp is the parent bank holding company of Salem Five (, a mutual institution founded in 1855. Salem Five aims to make customers’ financial lives simpler and more convenient with sophisticated retail and commercial banking products, personalized service and innovative technology. Salem Five is one of the largest banks headquartered in Massachusetts with $5 billion in assets and 35 retail branches in Essex, Middlesex, Norfolk and Suffolk counties and southern New Hampshire. Divisions include Salem Five Mortgage Company, which provides residential lending throughout New England; Salem Five Financial which offers financial and retirement income planning and portfolio review; Salem Five Wealth Management & Trust offering money management and trust services; and Salem Five Insurance Agency, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC and DIF. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.

KLR's commitment is to secure the best talent, tailored to our client's needs, goals and environment. Let us find the right executive for you! Give us a call today!

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