March 21, 2011
La Salle University Honors Gerry Cuddy, President and CEO of Beneficial Bank, with Its Leadership Award
La Salle University President Br. Michael J. McGinniss, F.S.C., presents the Leadership Award to Gerry Cuddy, President and CEO of Beneficial Bank.
Gerry Cuddy and Jim Lynch have crossed paths at some interesting points in their lives. They first met when Lynch, then an executive at Continental Bank, hired Cuddy, a recent Villanova graduate, in 1981. “Jim Lynch gave me my first opportunity in the banking industry,” said Cuddy, who at that time still wasn’t sure what he wanted to do with his life. “Jim looked at me and probably said to himself, ‘This will be interesting to watch.’”
Thirty years later, Lynch went to see Cuddy, now the President and CEO of Beneficial Bank. He was accompanied by William Sasso, Esq., Chairman of the Philadelphia law firm of Stradley Ronon Stevens & Young LLP. “I thought I was in trouble when they came to see me,” Cuddy joked. But, again, Lynch had good news for him. Cuddy was to receive
La Salle University’s 2011 Leadership Award. Both Lynch and Sasso are
La Salle graduates and previous recipients of the University’s Leadership Award.
Cuddy reflected upon his reaction upon learning that he would be bestowed with this award.
“I was really honored and taken aback,” Cuddy said. “La Salle is an unbelievable institution. I feel honored to be included in such an esteemed category with the past recipients of this award.”
Cuddy joined Beneficial four years ago. According to him, he was energized to assume leadership of Philadelphia’s oldest and largest bank at such an important time in Beneficial’s history.
“When I joined Beneficial, the Bank was in the middle of going public and acquiring another financial institution,” he said. “There were no challenges in keeping busy.”
“What I enjoy about banking is that I get to work with interesting people,” Cuddy said. “In principle a bank is a lender, and I meet people across many different industries, who are trying to grow companies, so in some small measure, banking provides jobs. Bankers also have the great opportunity to educate people to do the right thing financially.”
Born and raised in Drexel Hill, Pa., Cuddy now lives with his wife Patricia and their two sons, Payton and Graham, in Rosemont, Pa.
Founded in 1853, Beneficial Bank is the oldest and largest bank headquartered in Philadelphia. It is a community-based, full-service financial services company that has served individuals and businesses in the Delaware Valley for 158 years. With 65 offices in the greater Philadelphia and South Jersey regions and $4.7 billion in assets, Beneficial offers a full array of financial products that includes commercial, consumer and real estate lending, insurance and wealth management.