| Boston Private has added two more to its growing team.
The bank said in a statement released yesterday that it has hired Emily Rush as executive vice president of commercial real estate and private equity sponsors, and Britt Hultgren as senior vice president of private equity and venture capital. Rush and Hultgren will both join the firm in July and will be based in Boston.
Rush will concentrate on developing business with private equity real estate sponsors in Boston Private’s key markets, fulfilling the banking and lending needs associated with capital calls and property financing. Hultgren will develop and manage banking and lending relationships with private equity and venture capital clients, furthering the firm’s strong presence in this sector.
“Emily Rush and Britt Hultgren are very accomplished banking professionals with deep sector expertise and a commitment to client service,” Jim Brown, president of commercial banking, at Boston Private. “They are the perfect complements to Boston Private’s existing commercial banking team and I look forward to the growth opportunities these leaders will bring to Boston Private.”
Rush joins Boston Private from Bank of America, where she was most recently senior vice president and senior relationship manager for the firm’s commercial real estate banking group. After previously serving as president of the Real Estate Lender’s Association Boston chapter, Rush will assume the role of vice chairwoman for the Urban Land Institute’s Boston/New England District Council this fall.
Hultgren joins Boston Private from BNY Mellon, where she worked for 20 years, most recently as senior private banker and first vice president, and was repeatedly recognized as a national banking revenue leader.
The appointments are the latest amid a cluster of new hires at the bank in 2019, including:
- a new general counsel
- two former Citigroup executives
- a chief operating and platform officer
- a new managing director
- a new president of private banking.
The new hires also come at a time of great transition for the bank.
Recently, CEO Anthony DeChellis unveiled an aggressive expansion plan that would see the bank triple its assets under management in its wealth management and trust division from roughly $16 billion now to about $50 billion by 2022. The plan also includes growing the bank’s private banking division 30 percent by 2022 and seeing the actual size of the bank grow from a roughly $8.4 billion in assets under management to $11.2 billion.
To achieve this, Boston Private plans to hire 100 financial advisers over the next three years, which would more than triple the number of total advisers it currently employs.
