James Garvey has been named chief executive officer of Charter Bank effective September 1. The move, by the bank’s board of directors, comes in anticipation of Keith Jackson’s planned retirement in 2010.

Garvey was elected at the recent August board meeting. Garvey was hired as president and chief operating officer in July of this year.

Former chief executive officer Jackson will become chairman of Charter Bank, serving in this position until his scheduled retirement date in 2010. Thomas Porter will remain chairman of the board.

Prior to joining Charter, Garvey served for eight years as president and chief executive officer for Flagship Bank and Trust of Worcester, MA, which he joined in 1999. Garvey also served as a senior vice president for T.D. Banknorth, formerly known as Safety Fund National Bank. Previously, he also held positions at Shawmut Bank and General Electric Capital Corporation.

Garvey received his MBA from Boston University and his B.A. in business administration from the University of Miami.

Charter Bank is a private bank for family-owned businesses and professionals located throughout Greater King County with offices in Bellevue, Redmond, Kent, and Downtown Seattle.