Board chair highlights new head's "member-centric" approach to the business
Federal Home Loan Bank of Boston (FHLBB) has named Timothy Barrett (pictured) as its new president and chief executive officer.
Barrett replaces Edward Hjerpe III, who had served as president and CEO since July 2009 and announced his retirement in April of this year.
Barrett joined FHLBB in November 2010 as senior vice president and treasurer and was promoted to executive vice president and treasurer in January 2019.
Prior to joining FHLBB, Barrett served as assistant treasurer at FMR LLC, the parent company of Fidelity Investments, from September 2008 to October 2010; as treasurer and chief investment officer at Fidelity Personal Bank & Trust from August 2007 to September 2008; as managing director, global treasury at Investors Bank & Trust from September 2004 to July 2007; in various senior roles in treasury at FleetBoston Financial (including merged entities) from 1985 to 2004; and as an investment manager for Citibank, NA from 1981 to 1985.
“Tim is a dedicated and consummate professional who has demonstrated exceptional leadership and a deep commitment to the bank’s mission, financial success, affordable housing and economic development, and diversity and inclusion efforts during his tenure of more than 10 years,” said Martin Geitz, chairman of FHLBB board of directors. “His member-centric approach to the bank’s business will skilfully guide the organization through these challenging times and increase the value of membership.”
“I am honored to assume this new role as president and CEO of FHLBB and excited for the opportunity to work with a focused team and board to meet the needs of our members that serve communities throughout New England,” said Barrett.