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| Personal | Business Banking | Commercial | Wealth Management | |
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| Personal | Business Banking | Commercial | Wealth Management | |
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Eastern Bank’s Investment Management Division Marks 200th Anniversary – with New Name, New Executives and New Product for Clients Changes mark Eastern’s move to attract new clients who are dissatisfied with larger firms BOSTON, Mass., June 16, 2003 – Marking the 200th anniversary of its investment management, trust and private banking division, Eastern Bank today announced a new name for the group, the addition of three new key executives and the creation of a new investment product for clients. The division has been renamed Eastern Investment Advisors, which better reflects the array of services it now provides to financially successful individuals, trusts and institutional investors in Greater Boston. Formerly known as Eastern Bank and Trust Company, the division until recently had its own charter under Eastern Bank Corp. The new name is just the latest move to accelerate growth by attracting more customers to its service-oriented financial management group. Eastern Investment Advisors has created three new executive positions, recently hiring Terri Z. Campbell, Damon C. Barglow and Michael Fung to deepen and broaden its research coverage and investor services. Campbell and Barglow are also portfolio managers within the group. Additionally, Eastern Investment Advisors announced the creation of its Eastern Growth Equity product, which invests in mid- and large-cap stocks primarily in growth sectors such as healthcare, software and services. The changes are aimed at capitalizing on the turmoil in the individual investor market, where clients with less than five million dollars are often overlooked and the psychology of investing has evolved from aggressive growth to wealth preservation, with investors now seeking safety, stability and service, in addition to performance. “The area’s large investment management firms have, for too long, catered only to the very wealthy,” said Carol C. McMullen, a former senior executive at Putnam Investments and Baring Asset Management, who was hired last fall to lead Eastern Investment Advisors. “We give people the opportunity to have their money expertly managed where they bank, while receiving the level of personal service and access to senior investment professionals many of these investment houses are unable to provide.” Eastern Investment Advisors offers a broad range of tailored investment management services to the underserved investor with wealth management needs, primarily the mid-market investor with between one and five million dollars to invest. Eastern Investment Advisors’ client service directives focus on building and keeping long-term relationships, coupled with direct access to credentialed professionals who average more than 20 years of experience. Campbell manages the group’s Core Equity investments and provides industry analysis in the technology and energy sectors. Barglow manages the bank’s Growth Equity Portfolio and covers the healthcare and industrial sectors. Fung is a quantitative analyst for the division. Eastern Investment Advisors’ roots date back to 1803, when Asiatic Bank – the forerunner to Eastern Bank & Trust Co. – was founded in Salem by a group of successful merchants who had established trading relationships with China. “We offer investment strategies that make sense, based on individual need, to the Greater Boston community – especially those who yearn for investment management built on the principles of value, stability and personal service. Is our approach new? No, but it’s driven by a passionate commitment to service that we consider innovative in an industry that’s lost the personal touch,” said McMullen. About Eastern Investment Advisors Eastern Investment Advisors is the investment management division of Boston-based Eastern Bank, and provides personalized investment management services to mid-market clients. The division’s services are supported by a well-defined process, in-depth research and high-quality products through experienced investment management professionals. For more information, contact: Joe Bartolotta, Public Relations Director, Eastern Bank, (781) 596-4411, or e-mail Joe Bartolotta |
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