Eastern Bank Appoints New Director To Its BoardOctober 22, 2018
Eastern Bank Corporator Greg A. Shell Joins Eastern’s Board of Directors
Brings Significant Leadership In Social Impact Investing and Asset Management
BOSTON, October 22, 2018 – Eastern Bank, America’s oldest and largest mutual bank, is pleased to announce that Greg A. Shell, a Managing Director of the Bain Capital Double Impact Fund and a Boston area civic leader, has been appointed as a Director to its Board, as well as a member of its Board of Trustees. He has been a member of Eastern's Board of Corporators since 2011 and currently serves on the Bank's Investment Advisory Committee and Trustee-Corporator Nominating Committees.
He also leads the Investment Committee for the Business Equity Fund which Eastern recently launched in partnership with the Boston Foundation. The Fund provides an alternative financing source and access to capital for qualified Black and Latino businesses that are constrained by conventional financing practices and methodologies, restricting their ability to grow.
“We are delighted to have Greg join Eastern’s Board of Directors,” says Deborah Jackson, Lead Director of Eastern Bank. “He operates at the nexus of economics and local and world events, and pivots easily among finance, philanthropy and other sectors. We look forward to continuing to benefit from his many insights.”
“Over the past seven years, Greg has been a terrific thought partner who has had an increasingly significant impact upon Eastern within multiple dimensions of our work,” adds Bob Rivers, Chair and CEO of Eastern Bank. “He is one of the most thoughtful contributors in Greater Boston’s business and philanthropic communities with the professional experience and deep community engagement that make him an excellent addition to our Board.”
Greg joined Bain Capital as a Managing Director in 2016 to co-lead the Double Impact Fund (BCDI), Bain Capital’s $350 million social impact private equity fund, with former Massachusetts Governor Deval Patrick. The Fund aims to deliver commercial rates of private equity return across three areas of focus: health and wellness, sustainability, and community building.
Prior to joining Bain Capital, Greg was a Portfolio Manager at Grantham, Mayo, Van Otterloo (GMO), then a $120 billion global investment management firm, where he led the Global Focused Equity Fund. He has extensive experience covering the industrials, basic materials, healthcare, financials, and consumer sectors. Prior to joining GMO, Greg was a Senior Equity Analyst in the Global Equity Research Group at Columbia Management Group, a $150 billion asset management firm, where he led coverage for the industrials and capital goods sectors. Previously, he was a consultant at Bain and Company in both the Strategy Practice and Private Equity Group. Greg earned his MBA degree from Harvard Business School and Bachelor of Science degree from MIT.
Greg is involved with many business and civic organizations, including the Boston Foundation, the Boys & Girls Clubs of Boston, Massachusetts General Hospital and MassChallenge. He is a founding Board Member of Compass Working Capital, a nonprofit providing financial tools to families with low incomes to help them build greater economic opportunity. This year, Greg was also named to The 100 Most Influential People in Boston list by Boston Magazine. He grew up in New Bedford, MA, where his mother was a hospital administrator and his father served as executive director for The Hunger Commission of Southeastern Massachusetts.
“For more than 200 years, Eastern has been dedicated to strong financial returns and measurable social good in communities across Greater Boston and beyond. I am honored to join Eastern’s Board of Directors and look forward to continuing to advance Eastern’s work and mission,” says Greg Shell.
Eastern Bank Corporation, the holding company of Eastern Bank, is governed by a group of individuals, known as the Board of Trustees, who act in the best interests of the Corporation. Their duties and responsibilities are specified by state law and the Bylaws of the Corporation, and have been delegated to the Board of Trustees Executive Committee, whose members are also the Board of Directors of Eastern Bank. Members of the Board of Trustees and the Board of Directors are also Corporators of Eastern Bank Corporation. Eastern’s Corporators represent the many communities served by the Bank.
Eastern believes as a community bank it can only be as strong as the communities and customers it serves, and embracing diversity, inclusion and a range of ideas in all areas of the organization not only makes it stronger and more innovative but also is a business imperative. In addition to a diverse total workforce, fifty percent of Eastern’s Board of Directors are women, people of color, and/or members of the LGBTQ community.
About Eastern Bank
Founded in 1818 and celebrating its 200th anniversary in 2018, Boston-based Eastern Bank is America’s oldest and largest mutual bank, with $11 billion in assets and over 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire and Rhode Island. Eastern provides exceptional access to fairly priced banking, investment and insurance products and services for consumers and businesses of all sizes. Eastern Bank, which includes Eastern Wealth Management and Eastern Insurance, is known for its outspoken advocacy and community support that has exceeded more than $110 million in charitable giving since 1999. An inclusive company, Eastern employs 1,900+ deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook, LinkedIn, Twitter and Instagram.