oston Private Bank & Trust Company, a wholly-owned subsidiary of Boston Private Financial Holdings
, has promoted Mark D. Thompson
to the CEO and James D. Dawson
to the president and COO positions. Both appointments will be effective April 30, 2003. Boston Private's core, or target, wealth management clients have investable assets ranging from $1-10 million.
Thompson will succeed Timothy L. Vaill
who has been the CEO of Boston Private Bank since January 1, 1993. Vaill will continue as chairman and CEO of the Bank's parent company, as well as remain a director of the bank. He will oversee the execution of the firm's strategy of building out wealth-management clusters on a regional basis. The bank currently targets New England and Northern California, and has also identified other regions for future expansion, according to a company spokesperson.
"I believe that Boston Private Bank has the best possible combination of philosophy, products and top-notch personnel to serve the wealth management market in New England," said Thompson, who also serves as chairman of the board of the North Shore ARC, an agency for individuals with developmental disabilities.
"Mark Thompson is an extremely accomplished banking executive who has established a broad reputation in the community. His vision for extending our private banking services throughout the region and his commitment to exceptional client service have attracted a significant number of valuable clients to the firm," said Boston Private Bank's Chairman Eugene S. Colangelo.
Thompson started his banking career at Boston Safe Deposit & Trust Company in 1980 and was one of the founding officers of Wainwright Bank & Trust Company
in 1987. He joined Boston Private Bank in 1994 where he has held a series of executive positions.
Dawson joined Boston Private Bank as chief lending officer in 1996 after 18 years at Shawmut Bank
in Boston. He has been responsible for the successful growth of the commercial loan portfolio since that time.
Boston Private Financial Holdings offers a full range of high-touch wealth management services via six operating companies in New England and California. The companies offer tax and estate financial planning, investment management and private banking services to domestic and international clients. In addition to Boston Private Bank & Trust Company, the subsidiaries are Westfield Capital Management Company, RINET Company, Boston Private Value Investors, Sand Hill Advisors and Borel Private Bank & Trust Company.
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