Berkshire Hills Bancorp, the parent company of Berkshire Bank, elected Eric S. Rosengren to the board of directors of the company and the bank. Rosengren’s election went into effect on April 5.
Rosengren previously served as president and CEO of the Federal Reserve Bank of Boston, starting in 2007 and ending with his retirement in 2021. Upon his election to Berkshire Hills’ board, Rosengren was named an independent director and appointed to the risk management, capital and compliance and audit committees of the board.
“We are pleased to welcome Eric to our board of directors,” David M. Brunelle, chairperson of Berkshire Bancorp’s board of directors, said. “His experience as a Fed president and vast subject matter expertise will provide invaluable perspectives to the strategic and risk-oversight functions of our board.”
“Berkshire Bank and all of our stakeholders will benefit from Eric’s decades of experience, insights and knowledge of the New England economy and broader macro-economic trends, financial sector regulatory system and risk management. He will help bolster Berkshire Bank further as we continue to advance along our path toward becoming a high-performing, leading, socially responsible community bank,” Nitin Mhatre, CEO of Berkshire Bank, said.
“Berkshire Bank has a long, storied history of supporting its customers and broader communities through multiple economic cycles with an unwavering commitment. They understand the critical role community banks play in our economy helping to build resilience and prosperity in our cities and towns. I’m proud to have the opportunity to work alongside the board and leadership team, to champion many of same topics in the same communities as I did at the Federal Reserve,” Rosengren said.
Rosengren is CEO of Rosengren Consulting and a visiting scholar at the MIT Golub Center for Finance & Policy. As noted earlier, he previously served as the president and CEO of the Federal Reserve Bank of Boston from 2007 until his retirement in 2021. As a Fed President, he was a participant and voting member of the Federal Open Market Committee. During his tenure, he also championed projects to help revitalize smaller city economies and enhance diversity, equity and inclusion within the Fed. Rosengren joined the Boston Fed in 1985 and held various roles in the bank’s research and supervision, regulation and credit departments. He has published more than 100 articles and papers on economics and finance.
