Wednesday, August 13, 2008

Boston Private Financial Holdings Appoints Carlyle Group Man To Its Board Of Directors

Boston Private Financial Holdings, Inc. (NASDAQ: BPFH), today announced that John Morton III has been elected to the Board of Directors.

Morton has extensive experience leading organizational turnarounds, acquisition integrations, business growth and corporate governance activities, according to oston Private.

Most recently, Morton was President of Premier Bank, a unit of Bank of America serving the entire financial needs spectrum for 750,000 affluent customers. Prior to that, Morton served as President of the mid-Atlantic region for Bank of America, and before that he was President, Private Client Group for NationsBank. Previously, Morton was successively CEO of Perpetual Financial Corporation of McLean, VA; Farm and Home Financial Corporation of Kansas City, MO; and Boatmen’s National Bank of St. Louis, MO.

Morton was suggested to Boston Private as a potential board member by The Carlyle Group. This was done in conjunction with a $75 million investment made in Boston Private by The Carlyle Group on July 22, 2008 where it was agreed that The Carlyle Group is entitled to maintain a board seat as long as it owns at least 5% of Boston Private’s outstanding shares.

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