TD Banknorth has named Gorham’s David Ott as the bank’s new president, replacing outgoing president Mike McNamara. “I haven’t seen too many people running out the door yet,” said Ott said, laughing, when asked about the transition. “Mike McNamara has done just a fabulous job. He’s going to be a tough act to follow.”

Ott has been with TD Banknorth for seven years. When he came to the company in 1999, he started as president. After working in corporate division for some time, he’s now back in the position that he prefers, dealing with the community. “What I’m most excited about is that in a corporate job you don’t get to see the customers as much, and that’s what I really like doing,” he said. “I miss dealing with Maine people.”

Ott graduated from Bowdoin College and got his masters degree from Boston College. After spending time working in Providence and two years in Minneapolis, he came back to Maine. “Do whatever you can, travel as much as you can, get some experience, and someday you can come back to Maine,” he said. ” I think you have much more appreciation for Maine if you go somewhere else.”

Ott said there are some challenges facing Maine in the coming years. “Maine has a lot of wonderful things, the lifestyle is great,” he said. “I think that workers are terrific here, but we have to bring in more business; we have to get more jobs. We’re an aging state. That could be a major impact on the state and how it funds those medical needs. So there are those challenges, but everyone has challenges and I think we have to work off the positive things in this state.”

Gorham’s David Ott has been named president of T.D. Banknorth.