Nancy Huntington Stager (left) and Rahn Dorsey (right). Photos courtesy of Eastern Bank
Eastern Bank has announced that Nancy Huntington Stager will be retiring from her role as president and CEO of its foundation on July 7 after 30 years at the bank in a range of roles.
Turahn Dorsey, the Eastern Bank Foundation‘s current chief impact officer, will take Stager’s place.
“It has been the honor of my lifetime to work with the incredible teams of colleagues at Eastern Bank Foundation and Eastern Bank, and across our communities with so many partners to help create opportunities in the communities we serve,” Huntington Stager said in a statement. “Rahn Dorsey has been an integral member of the leadership team over the past six years, first as a Fellow and then as Chief Impact Officer. His extensive knowledge, experience and relationships position him exceptionally well to lead the Foundation. I’m delighted the Foundation team and our communities will continue to benefit from his leadership and I congratulate him on this well-deserved promotion.”
Stager is credited with reshaping the foundation’s philanthropy vision and mission to focus on community vibrancy and economic inclusion. She led the foundation for many years while also directing the bank’s human resources team, but became its full-time leader in 2019.
That was shortly followed by Eastern Bank’s move to go public in 2020 and simultaneously give about $90 million worth of new bank stock to the foundation to amp up its charitable work.
Eastern Bank said Stager led the foundation’s current strategy to hire “foundation fellows”, each with deep expertise in their field, to combine their extensive knowledge and strong relationships with the foundation’s financial resources to advance equity in the small business ecosystem, enrich early childhood development, secure safe and affordable housing, and promote workforce development for adults.
“Having joined Eastern in 1995 as our Director of Human Resources and the first woman to serve on our Management Committee, Nancy actively shaped the bank’s culture and reputation for doing good in the region,” Eastern Bank Executive Chair Bob Rivers said in a statement. “She also oversaw the Foundation for 25 years, becoming its full-time President and CEO in 2019. She has made enduring contributions leading our philanthropy, volunteerism and civic advocacy, and we thank her for her leadership, guidance and smarts. While no words will adequately express our gratitude and appreciation for all that she has achieved, we are thrilled to announce Nancy as the recipient of our 2025 Celebration of Social Justice honor.”
Dorsey joined the Eastern Bank Foundation in 2019 as a foundation fellow, where he developed and executed strategies to improve early childhood outcomes in the region. He was promoted in 2022 to the newly created role of chief impact officer, focused on advancing the foundation’s impact across the communities it serves. He is credited with playing a key leadership role in advancing the foundation’s approaches to economic mobility and inclusion, as well as measurement, evaluation and learning.
In particular, Dorsey helped the foundation make its first debt-based investments in affordable housing and community land ownership through long-term, low interest loans.
