Berkshire Hills Bancorp Appoints Former Federal Reserve Bank of Boston President and CEO Eric Rosengren as New Independent Director
BOSTON, April 10, 2023 /PRNewswire/ — Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the guardian business of Berkshire Bank, a foremost socially responsible local community financial institution with economical centers in New England and New York, announced the election of Eric S. Rosengren to the Board of Directors of the Company and its wholly-owned subsidiary Berkshire Bank effective April 5, 2023. Mr. Rosengren provides extensive economical, threat management and regulatory know-how obtaining served as the President and CEO of the Federal Reserve Bank of Boston until his retirement in 2021. On his election, Mr. Rosengren was determined to be an unbiased director and a fiscal expert and appointed to the Risk Management, Funds and Compliance and Audit Committees of the Board.
“We are delighted to welcome Eric to our Board of Directors,” explained Chairperson David M. Brunelle. “His knowledge as a Fed President and vast subject issue abilities will supply a must have views to the strategic and hazard-oversight features of our board.”
“Berkshire Lender and all of our stakeholders will reward from Eric’s many years of experience, insights and knowledge of the New England economic system and broader macro-financial trends, economic sector regulatory process and possibility administration. He will aid bolster Berkshire Bank additional as we keep on to advance together our route towards starting to be a significant-carrying out, major socially dependable community financial institution,” additional Berkshire Bank CEO Nitin Mhatre.
“Berkshire Bank has a very long, storied background of supporting its clients and broader communities by means of several financial cycles with an unwavering motivation. They realize the important purpose local community banks enjoy in our financial state assisting to construct resilience and prosperity in our towns and cities. I am proud to have the option to get the job done along with the Board and management workforce, to champion numerous of identical matters in the very same communities as I did at the Federal Reserve,” said Mr. Rosengren.
About Eric S. Rosengren
Mr. Rosengren is CEO of Rosengren Consulting and a Traveling to Scholar at the MIT Golub Middle for Finance & Plan. He formerly served as the President and CEO of the Federal Reserve Financial institution of Boston from 2007 until eventually his retirement in 2021. As a Fed President, he was a participant and voting member of the Federal Open Industry Committee. All through his tenure he also championed jobs to assist revitalize smaller metropolis economies and increase variety, fairness and inclusion in the Fed. Mr. Rosengren joined the Boston Fed in 1985 and held many roles in the Bank’s Analysis and Supervision, Regulation, and Credit rating Departments. He has released about 100 articles and papers on economics and finance, and is typically cited in main educational journals and featured in significant media outlets on subject areas together with macroeconomics, monetary plan, global banking, lender supervision and possibility administration. Mr. Rosengren holds a Ph.D. and Masters from the College of Wisconsin and a Bachelors from Colby Higher education wherever he also serves as a member of the Board of Trustees.
ABOUT BERKSHIRE HILLS BANCORP
Headquartered in Boston, Berkshire Hills Bancorp (NYSE:BHLB) is the mother or father of Berkshire Bank. Started in 1846, the Bank’s eyesight is to be a large-undertaking top socially liable local community lender. It empowers the fiscal potential of its stakeholders by producing banking available exactly where, when, and how it truly is wanted through an uncompromising emphasis on excellent consumer support, digital banking, and constructive local community effect. Furnishing a broad assortment of money solutions by means of its client banking, commercial banking and wealth management divisions, the Financial institution has somewhere around $11.7 billion in belongings and a group-based mostly footprint of 100 financial centers in Massachusetts, New York, Vermont, Connecticut, and Rhode Island. Named 1 of America’s Most Reliable Corporations by Newsweek and America’s Greatest Midsize Companies by Forbes, Berkshire is also listed in the Bloomberg Gender-Equality Index and a Ideal Spot to Work for LGBTQ+ Equality. To study additional, adhere to us on Facebook, Twitter, Instagram, and LinkedIn.
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Source Berkshire Hills Bancorp, Inc.
