Boston Private Honored with Inaugural NACD Board of the Year Award.The New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. Chapter of the National Association of Corporate Directors Announces that Boston Private Financial Holdings is the first winner of the Board of the Year Award BOSTON -- This week, Boston Private Financial Holdings, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BPFH BPFH Boston Private Financial Holdings, Inc BPFH Bastard Programmer from Hell ), a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company which owns independently-operated affiliates located in key geographic regions of the U.S., was honored with the first-ever New England Chapter of the National Association of Corporate Directors (NACDNE) Board of the Year Award. The Award recognizes independent corporate boards or nonprofit organizations Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. that have made outstanding contributions to New England's corporate community and/or valuable contributions to the companies which they serve. The Boston Private Board was selected because of its active, collaborative and dynamic approach which enables the Company to be at the forefront of corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. issues. Further, the Boston Private Board demonstrates exceptional discipline and an excellent balance between strategy and collaboration with management, enabling the Company to continue its strong growth and acquisition strategy while remaining transparent and compliant with corporate governance standards. In 1997 the Board approved the move which enabled Boston Private to progress beyond private banking through the acquisition of an investment management firm that, at the time, represented one-third of the Company's ownership. The Board has since approved fifteen acquisitions, enabling Boston Private to grow to 43 offices in six states across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "We are both thrilled and honored as the inaugural recipient of this award from such a prominent and well established organization," said Timothy Vaill, Chairman and Chief Executive Officer of Boston Private Financial Holdings. "This honor recognizes not only our Board's commitment to maintaining transparency through rapid growth, but also our dedication to creating value for our shareholders." The National Association of Corporate Directors is a 29-year old, national organization that promotes high professional standards among corporate and nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. directors. It is recognized as a seasoned, authoritative voice on corporate governance practices and policies. Boston Private will be presented with the award on Thursday, May 3rd at the 2007 Director of the Year awards dinner to be held at the Boston Intercontinental in·ter·con·ti·nen·tal adj. 1. Extending or taking place between or among continents: intercontinental exploration; intercontinental cooperation. 2. Hotel. The New England Chapter is one of NACD's oldest and largest chapters, and it is dedicated to excellence in board leadership. More information about the Chapter and the Awards is available at www.nacdne.org. Boston Private Wealth Management Group Boston Private is a financial services company which owns independently-operated affiliates located in key geographic regions of the U.S. Boston Private's Affiliates offer private banking, wealth advisory and investment management services to the high net worth marketplace, selected businesses and institutions. The Company's strategy is to enter new markets primarily through selected acquisitions, and then expand its wealth management business by way of organic growth. It makes investments in mid-size firms in demographically attractive areas, forming geographic clusters that represent the firm's core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
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