Thomas Fisher has been named Montecito Bank & Trust’s (MB&T) new chief investment officer, succeeding Peter Madlem.

Fisher has worked closely over the last few years with Madlem to ensure a successful transition. Madlem will transition to senior portfolio manager, where he will focus exclusively on managing the bank’s $450 million-plus fixed income-securities portfolio.

Fisher brings skills, experience and a track record of success to his new role that will allow MB&T to continue building on the foundation Madlem has built.

“As our new chief investment officer, Tom’s abundant knowledge, experience and leadership will enhance the mission of the Montecito Bank & Trust Wealth Department to fulfill the complete wealth management needs of high net worth families, individuals and nonprofit organizations on the Central Coast,” Madlem said.

Fisher has some 30 years of experience in portfolio management, business development and financial planning.

“I have worked with Tom for more than 20 years throughout our careers and he is uniquely qualified to lead our investment team forward,” said Jeff Pittman, EVP/director of wealth management.

“I look forward to leading our experienced and talented investment team as we guide our clients through the current environment and help them meet their financial and investment goals through customized portfolio management,” Fisher said.

Fisher is a certified financial planner, a CFA Charter holder, and holds bachelors and masters of science degrees in financial services from San Diego State University. He is involved in the Santa Barbara community as a board member for Teddy Bear Cancer Foundation, and board member at Care4Paws, treasurer of the Rotary Club of Montecito Foundation, and president-elect of the Montecito Rotary Club.

Madlem joined the bank’s wealth management department in early 2012, and over the past nine years has hired and developed the investment team that is in place today. He also re-built the department’s investment research capabilities, investment processes, policies and procedures and compliance infrastructure.

Madlem has consistently been a top-quartile performer for his work in managing the bank’s securities portfolio; a particularly challenging job during the financial crisis that disrupted the financial markets in the first and second quarters of 2020.

The Montecito Bank & Trust’s investment team has blossomed under Madlem’s thoughtful leadership, said Jeff Pittman, EVP/director of wealth management.

“Peter has built an extraordinarily talented and experienced investment team during his nine years as MB&T’s chief investment officer, while supporting double digit annual growth in client assets to over $1.6 billion,” Pittman said.

“He will continue to manage the bank’s bond portfolio and contribute to the bank’s asset and liability and investment committees,” Pittman said.