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FHLBank Boston Leadership Promotions
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Dear Member,

In June, I shared with you the news that Susan Elliott, executive vice president, chief business officer, and George Collins, executive vice president, chief risk officer, had each notified me and the Bank's Board of Directors of their decisions to retire at the end of this year. Please join me again in congratulating Susan and George on long, distinguished and successful careers at FHLBank Boston. We wish them and their families good health and much happiness as they enter their next chapter of life.

Given the six-month notices Susan and George provided, Management and the Board have had ample time to enact our long-term succession plan and ensure that FHLBank Boston has the right structure and leadership in place to take the Bank forward in the best possible manner while maintaining the same level of service you have come to expect from your cooperative.

Toward that end, it is with pleasure and pride that I share with you news of the following promotions effective January 1, 2020:

Ana Dyer will be promoted to senior vice president, member services and report directly to me as part of the Bank's Management Committee. Ana has served as first vice president and director of sales and business development in Member Services since joining the Bank in 2012 from Webster Bank, where she served as senior vice president, regional manager in their Business and Professional Banking division. Ana's career in financial services began in 1989 at Fleet National Bank and includes stops at Shawmut Bank, Bank of Boston and Bank of America prior to joining Webster in 2005.

Ed Schultze will be promoted to senior vice president, chief risk officer and report directly to me as part of the Bank's Management Committee. Ed has served as first vice president, director of market risk management in ERM since 2013, after being promoted from the role of vice president, director of capital market risks which he assumed when he joined the Bank in 2010. Ed's financial services career began in 1983 and includes various roles at Guaranty Bank, Firstfed America Bancorp, and First Institutional Liquidity Corp.

Ken Willis will be promoted to senior vice president, director of housing and community investment. Ken was promoted to first vice president, director of housing and community investment in 2012 after receiving two previous promotions within the department. Prior to joining the Bank, he worked in financial services from 1991 to 1998 at Bay Bank and Bank of Boston.

Please join me in congratulating Ana, Ed, and Ken on their well-deserved promotions. I am confident in their abilities and excited about their increased leadership responsibilities.

Thank you for your continued business and support.

Edward A. Hjerpe III
President & CEO