Boston Private Opens New Wealth Management Office and Announces Executive Appointments
June 08 2015 - 8:00AM
Business Wire
Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (”Boston
Private” or the “Company”) has announced that it has opened its new
Boston Private Wealth headquarters at One Federal Street in Boston.
The Company also announced the appointment of Mark D. Thompson as
Chief Executive Officer of Boston Private Wealth. Mr. Thompson will
also continue to serve as CEO of Boston Private Bank & Trust
and President of Boston Private Financial Holdings. Peter J.
Raimondi will continue in the position of President of Boston
Private Wealth.
“We’ve made outstanding progress in the integration of our
Wealth Management, Trust and Private Banking platforms, and we’re
nearing the completion of that process this month, on schedule,”
said Clayton G. Deutsch, CEO of Boston Private. “Our focus is on
ensuring that these areas of our business continue to work more
closely together to the benefit of our clients, and on driving
future growth. Our new Boston Private Wealth leadership structure
puts us in a strong position to do both.”
“As CEO of Boston Private Bank & Trust Company, as well as
Boston Private Wealth, Mark will be in an ideal position to
spearhead the seamless delivery of wealth management and private
banking services to our clients. He has been overseeing the Private
Bank and related businesses since the merger with Banyan Partners,
and this move will provide him with additional opportunity to guide
development of an integrated Wealth Management, Trust and Private
Banking firm. This is central to our overall advance as a Company.
Mark is a proven executive who is uniquely qualified to lead this
process.”
“Peter will continue to work closely with Mark and the rest of
the Boston Private Wealth leadership team to capitalize on the
incredible growth opportunities in the Wealth Management space.
Peter is a successful entrepreneur and builder of businesses. As
President, he will be able to focus completely on key growth
initiatives, potential team acquisitions, the expansion of
relationships with our channel partners in the wealth sector, and
on maximizing the talents and skills of our Wealth professionals in
our offices around the country.”
Mr. Thompson joined Boston Private in 1994, and has served as
CEO of Boston Private Bank since 2003. In partnership with Mr.
Deutsch, Mr. Thompson leads the development and expansion of Boston
Private’s integrated Wealth Management, Trust and Private Banking
model across multiple geographic markets.
“We know that clients are seeking the kind of integrated, high
touch, personalized financial services that Boston Private is
especially well-positioned to deliver,” said Mr. Thompson. “We’re
committed to providing the highest level of sophisticated
investment management services in a relationship-driven way, and
I’m excited about the opportunity to serve our clients even better
as we bring these platforms closer together.”
Mr. Raimondi joined Boston Private in 2014 via the acquisition
of Banyan Partners. Mr. Raimondi was founder and CEO of Banyan. He
will lead the expansion of Boston Private’s Wealth Management and
Trust business, with a focus on extending the Company’s recently
enhanced wealth management expertise to multiple markets and
exploring additional opportunities to acquire complementary
teams.
“There is a tremendous amount of runway for continued growth at
Boston Private Wealth,” said Mr. Raimondi. “We have a strong
foundation to build on and rich opportunities to expand our reach
in areas such as creating a specialized and elite client service
model, expanding our work with channel partners, and looking for
like-minded teams that can bring new strengths to our
business.”
Mr. Deutsch added, “In addition to these talented executives, we
are fortunate to have an extremely strong and experienced group of
professionals across the Company. We are looking forward to
continuing to build a world-class Wealth Management, Trust and
Private Banking organization, meeting and exceeding the
expectations of our clients across the country.”
Boston Private Financial Holdings,
Inc.
Boston Private Financial Holdings, Inc. is a national financial
services organization that owns Wealth Management and Private
Banking affiliates with offices in Boston, New York, Los Angeles,
San Francisco, San Jose, Atlanta, Florida, Wisconsin, and Texas.
The Company has a $7 billion Private Banking balance sheet, and
manages approximately $30 billion of client assets. The Company
positions its affiliates to serve the high net worth marketplace
with high quality products and services of unique appeal to private
clients. The Company also provides strategic oversight and access
to resources, both financial and intellectual, to support affiliate
management, marketing, compliance and legal activities. (NASDAQ:
BPFH)
For more information about BPFH, visit the Company’s website
at www.bostonprivate.com.
Forward-Looking
Statements Certain statements in this press release
that are not historical facts may constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and are intended to be covered by the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements involve risks and
uncertainties. These statements include, among others, statements
regarding our strategy, and prospects for growth. You should not
place undue reliance on our forward-looking statements. You should
exercise caution in interpreting and relying on forward-looking
statements because they are subject to significant risks,
uncertainties and other factors which are, in some cases, beyond
the Company’s control. Forward-looking statements are based on the
current assumptions and beliefs of management and are only
expectations of future results. The Company’s actual results could
differ materially from those projected in the forward-looking
statements due to many factors including changes in assumptions
used in making such forward-looking statements, and the other risks
and uncertainties detailed in the Company’s Annual Report on Form
10-K and updated by the Company’s Quarterly Reports on Form 10-Q
and other filings submitted to the Securities and Exchange
Commission. Forward-looking statements speak only as of the date on
which they are made. The Company does not undertake any obligation
to update any forward-looking statement to reflect circumstances or
events that occur after the date the forward-looking statements are
made.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150608005484/en/
Boston Private Financial Holdings, Inc.Steven Gaven,
617-912-3793Vice President, Director of Investor
Relationssgaven@bostonprivate.com
Boston Private Financial (NASDAQ:BPFH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Boston Private Financial (NASDAQ:BPFH)
Historical Stock Chart
From Apr 2023 to Apr 2024