Federal Home Loan Bank of Boston Appoints Timothy J. Barrett as President and CEO
BOSTON, September 2, 2021 / PRNewswire / – The Federal Home Loan Bank of Boston announced that Timothy J. Barrett was appointed President and Chief Executive Officer, effective December 1, 2021.
“Tim is a dedicated and accomplished professional who has demonstrated exceptional leadership and a deep commitment to the Bank’s mission, financial success, affordable housing and economic development, as well as the efforts of diversity and development. ‘inclusion during his tenure of more than 10 years,’ said Martin J. Geitz, Chairman of the Board of Directors of FHLBank Boston. “His member-centered approach to the Bank’s business will skillfully guide the organization through these difficult times and increase the value of membership. With an in-depth knowledge of the vital role that FHLBanks plays within our financial system, Tim is well respected in the industry and throughout the FHLBank system, and his in-depth understanding of how different business cycles affect the bank and our members are an invaluable asset. ”
Barrett joined the Bank in november 2010 Senior Vice President and Treasurer and was promoted to Executive Vice President and Treasurer in January 2019. Prior to joining the Bank, he served as Assistant Treasurer at FMR LLC, the parent company of Fidelity Investments of September 2008 at october 2010; as Treasurer and Director of Investments at Fidelity Personal Bank & Trust of august 2007 at September 2008; as Managing Director of Global Treasury at Investors Bank & Trust of September 2004 at July 2007; in various treasury management positions at FleetBoston Financial (including the merged entities) from 1985 to 2004; and as an investment manager for Citibank, NA from 1981 to 1985. Barrett received his BA from Saint-Anselme College and his MBA of Rensselaer Polytechnic Institute.
“I am honored to assume this new role as President and CEO of FHLBank Boston and thrilled to have the opportunity to work with a focused team and board to meet the needs of our members who serve the communities. from New England, ”Barrett said.
Barrett replaces Edward A. Hjerpe III, who has been President and CEO since july 2009 and announced his retirement in April of this year.
“On behalf of the Board of Directors and all staff of the Bank, I express our sincere gratitude to Ed for his consistent leadership over the past 12 years,” said Geitz. “Tenacious and determined, he was instrumental in the successful leadership of the Bank during the Great Recession, galvanizing a team of dedicated leaders who restored the strength and stability of the Bank, designing and implementing our voluntary programs of affordable housing and economic development, and, more importantly, providing uninterrupted access to cash and funding for our members and the communities they serve. ”
“I am proud to have been President and CEO of FHLBank Boston since 2009. This has been the highlight of my career,” said Hjerpe. “I have had the privilege of working with some of the best leaders in the industry, including Tim who I have worked closely with for over 10 years. I have no doubts that he is a very capable and experienced leader who will guide the Bank, along with a very strong management team, through these difficult times and into a bright future. ”
About the Bank
The Federal Mortgage Bank of Boston is a co-op owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and provides competitively priced financial products, services and expertise that support housing finance, community development and economic growth, including programs for low-income households.
SOURCE Federal Home Loan Bank of Boston