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Eastern Bank Announces Executive Leadership Changes

October 30, 2020

Nancy Huntington Stager Moving Full-Time Into Her Role As President And Chief Executive Officer Of The Eastern Bank Charitable Foundation

General Counsel and Corporate Secretary Kathleen C. Henry Adding Responsibility Of Chief Human Resources Officer  

BOSTON, MA, October 30, 2020 – Eastern Bank, a provider of banking, insurance and investment products and services, announced today that Nancy Huntington Stager will be moving full-time into her role as President and Chief Executive Officer of the Eastern Bank Charitable Foundation, while remaining on Eastern’s Management Committee, and Kathleen C. Henry will be taking on the responsibility of Chief Human Resources Officer, in addition to her responsibilities as General Counsel and Corporate Secretary of Eastern Bankshares, Inc. and Eastern Bank.

“With Eastern’s IPO now complete, the addition of a $90 million contribution through our offering to the Eastern Bank Charitable Foundation has increased its total assets to over $220 million, providing the resources to further advance our mission by delivering an even greater impact in the communities we serve,” said Bob Rivers, CEO and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank. “It is an opportune time for Nancy to step into her leadership role full-time at the Eastern Bank Charitable Foundation and complete a transition that was announced more than a year ago. Kathy’s proven leadership in other areas of the organization will serve us as well as she assumes leadership of our Human Resources team in addition to her current role.” 

Ms. Stager led the Human Resources (HR) Division for Eastern for the past 25 years. She actively shaped the culture the Bank enjoys today and has consistently reached out to help lead change within the communities that Eastern serves. As the Eastern Bank Charitable Foundation’s President and CEO, she leads efforts to provide philanthropy, advocacy and volunteer programs to support non-profit organizations across the communities Eastern serves. A champion of civil rights, economic justice and inclusion, she serves as a leading advocate on social justice issues. The recipient of numerous leadership awards in diversity, equity and inclusion (DE&I) and corporate social responsibility, Stager serves on the boards of several community organizations across Greater Boston, including as Board President for the Foundation for Business Equity, and has actively shaped Eastern Bank as a recognized leader in corporate citizenship in the region. 

Stager moves into her full-time role leading the Foundation when its assets and focus on economic inclusion and mobility are increasing significantly. In recent years, the Foundation began to complement the millions it grants in small community donations to support organizations working on an array of local community needs with committing millions more through larger grants, to enhance its impact to do good at another level entirely around addressing the racial, gender and other inequities that lead to and perpetuate income and wealth gaps.


“We seek to continue to support the needs of our local communities, as we have for decades, while also focusing increasingly larger support for innovative work to address the most pressing issues of our time: economic inclusion and mobility, particularly at the intersections of equity for businesses of color, early childhood development, safe and affordable housing, and workforce development across our region,” said Nancy Huntington Stager, President and CEO of the Eastern Bank Charitable Foundation. 

Kathleen C. Henry’s responsibilities have expanded rapidly since she joined Eastern in 2016. She oversees a legal team responsible for managing the legal affairs of Eastern Bankshares, Inc. and its affiliates, including Eastern Bank and Eastern Insurance Group LLC. She also serves as the primary legal advisor to Eastern’s Board of Directors, Chief Executive Officer and senior management. She is responsible for serving as Secretary to the Boards of Directors of Eastern Bankshares, Inc. and Eastern Bank, directing all governance activities for Eastern Bankshares, Inc., Eastern Bank and their respective subsidiaries. 

Previously, Ms. Henry was General Counsel and Deputy General Counsel of Plymouth Rock Assurance Corporation, where she worked closely with the Human Resources Department on HR matters, and before then, she was a litigation partner at Choate, Hall & Stewart LLP, specializing in insurance and reinsurance litigation where she also served as the firm’s first hiring and pro bono partner and oversaw attorney hiring and retention with a focus on DE&I. Ms. Henry serves on the board of directors of the Political Asylum Representation Project, the Advisory Board for the Northeastern University School of Law’s Women in the Law Conference, as trustee of the Boston Bar Foundation and has served on numerous committees of the Boston Bar Association.

“In several years, Kathy Henry has made significant impact on our legal risk management and governance practices,” added Bob Rivers. “She is passionate about using her leadership to do good, give back and serve as a mentor, and we look forward to benefitting from her leadership across the organization.”

“Eastern’s collaborative culture and emphasis on our colleagues, customers and communities continually inspire me, and I am excited to help guide this great organization forward,” added Kathleen C. Henry, Chief Human Resources Officer, General Counsel and Corporate Secretary of Eastern Bankshares, Inc. and Eastern Bank.

The new roles are effective November 2, 2020, coinciding with Eastern’s 2020 Celebration of Social Justice.

About Eastern Bank Charitable Foundation
Created in 1994, the Eastern Bank Charitable Foundation is the philanthropic arm of Boston-based Eastern Bank. Through philanthropy, employee volunteerism, advocacy, and collaborations with other businesses and community partners, Eastern Bank Charitable Foundation responds to community needs and supports sustainable solutions to our communities’ most vexing challenges across eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. In 2020, Eastern Bank Charitable Foundation doubled its donations to provide an additional $11 million in support for individuals and families in our communities during the COVID-19 pandemic. 


About Eastern Bank
Founded in 1818, Boston-based Eastern Bank has more than 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of June 30, 2020, Eastern Bank had approximately $14.0 billion in total assets. Eastern provides banking, investment and insurance products and services for consumers and businesses of all sizes, including through its Eastern Wealth Management division and its Eastern Insurance Group subsidiary. Eastern takes pride in its outspoken advocacy and community support that has exceeded $140 million in charitable giving since 1999. An inclusive company, Eastern employs 1,800+ deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at
www.easternbank.com and follow Eastern on FacebookLinkedInTwitter and Instagram. Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC) is the stock holding company for Eastern Bank. For investor information, visit investor.easternbank.com.


Media contact:
Andrea Goodman
Eastern Bank

a.goodman@easternbank.com

781-598-7847

Investor contact:
Jill Belliveau
Eastern Bankshares, Inc.

InvestorRelations@easternbank.com

781-598-7920

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