Boston Private Announces Executive Changes
November 09 2015 - 8:30AM
Business Wire
Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (the
"Company" or "BPFH") today announced that Mark D. Thompson,
President of the Company and Chief Executive Officer of Boston
Private Bank & Trust Company (the “Bank”) is retiring at the
end of the year. Mr. Thompson will stay on as CEO of the Bank and
President of the Company, and continue to serve on the boards of
both entities, until year-end.
“In the course of my 21 years with the Bank, and the past five
years as an executive with the Company, we have made enormous
strides in completely transforming our business,” said Mr.
Thompson. “When I started with the Bank, it had $100 million in
assets, one office and no investment management capabilities at
all. The Bank now has over $7 billion in balance sheet assets, 34
offices, and a wholly owned wealth management subsidiary of the
Bank with approximately $8 billion in assets under management. More
important than these numbers, however, are our people. I believe we
have the very best professionals anyone could ask for in our
industry, as well as an amazingly high caliber client roster. It is
because of my confidence in our employee base that I feel I can
step away from my current role and pursue other facets of my life
that I have left unattended while building the Bank.”
Clayton G. Deutsch, CEO of the Company, said “Mark has been a
valuable partner to me since I joined our Company in 2010, and has
been instrumental in our work to position Boston Private for long
term health and success. He and I together have worked very hard to
advance our integrated Boston Private Wealth, Trust and Private
Banking model. On behalf of the Company and the Board, we all wish
him the very best in his next chapter, and extend our deepest
gratitude to him for his contributions. While Mark will be missed
by all of us, I have great confidence in the breadth and depth of
our leadership group and the strength of our professionals. Mark’s
ultimate legacy is that he leaves behind tremendous people in our
Company, with great core values and a strong culture.”
The Board has not yet named a successor to Mr. Thompson and is
expected to take the remainder of the year to consider
candidates.
Mr. Thompson concluded, “While I recognize that there is still a
lot more to do here at the Company, I also want to be able to try
my hand at some other endeavors. I plan to stay in the area and
will continue to be involved in the Bank as a member of the
Advisory Board following my retirement at year end, while also
focusing more on my charitable and community work.”
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 $27 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20151109005852/en/
MEDIA:John HartzSloane & Co.(p)
857-598-4779jhartz@sloanepr.comorSteven Gaven,Vice President,
Director of Investor RelationsBoston Private Financial Holdings,
Inc.(617) 912-3793sgaven@bostonprivate.com
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