Eric Rosengren, the former president and CEO of the Federal Reserve Bank of Boston, has joined Berkshire Bank’s board of directors.
Rosengren was elected to the boards of Berkshire Bank and its parent company, Berkshire Hills Bancorp Inc., as an independent director effective April 5, the bank said in a statement today.
“We are pleased to welcome Eric to our Board of Directors,” Board Chair David Brunelle said in the statement. “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.”
Noting his financial, risk management and regulatory expertise, the bank said Rosengren was appointed to the risk management, capital and compliance committee and to the audit committee. The board also designated Rosengren as one of its financial experts.
“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,” Berkshire Bank CEO Nitin Mhatre said in the statement. “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.”
Rosengren was president and CEO of the Boston Fed from 2007 until his retirement in 2021. He had joined the Boston Fed in 1985 and had roles in the research and supervision, regulation, and credit departments. Currently he is the CEO of Rosengren Consulting and a visiting scholar at the MIT Golub Center for Finance & Policy.
“Berkshire Bank has a long, storied history of supporting its customers and broader communities through multiple economic cycles with an unwavering commitment,” Rosengren said in the statement. “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.”
Berkshire Bank also recently added former Massachusetts Lt. Gov. Karyn Polito to its board.
