January 27, 2006

United Way of Massachusetts Bay welcomes new Board members

Bob Mahoney of Citizens Financial Group named Board Chair

BOSTON – As he walked through the doors of The First National Bank of Boston on his first day of work after graduating from college, Bob Mahoney was greeted by the senior executives of the company serving breakfast to all of the employees. He soon discovered that this was not a welcome breakfast just for him, but the kickoff of Bank of Boston’s annual United Way campaign.

Thirty-five years after his first encounter with United Way of Massachusetts Bay, Mahoney, now Vice Chairman of Citizens Financial Group, Inc., will serve as the new Chairman of UWMB’s Board of Directors. Mahoney’s tenure follows the extraordinary leadership of outgoing Chairwoman Cathy Minehan. Mahoney was unanimously voted to Chairman of UWMB’s 63-member Board at a meeting held this morning. In addition to approving Mahoney’s new role, the UWMB Board welcomed 10 new members to help lead the organization.

“Bob’s many accomplishments in the world of banking and finance speak for themselves,” said Milton J. Little, Jr., president and chief executive officer of United Way of Massachusetts Bay. “We are extremely fortunate that we will benefit from his ideas, experience and enthusiasm as we work toward achieving our vision of making greater Boston the best place to raise a child.”

“I look forward to working with UWMB’s group of talented and committed leaders,” said Mahoney. “Throughout the year, my hope is that we can continue United Way’s transformation from an organization known for raising and distributing funds to one known for a long and lasting legacy of community impact.”

New members joining United Way’s Board are:

• Steven W. Barnes, Managing Director, Bain Capital;
• Joseph P. Campanelli, President and Chief Operating Officer, Sovereign Bank New England Division;
• Kathleen Casavant, Treasurer, Massachusetts AFL-CIO;
• William Fine, President and General Manager, WCVB-TV Channel 5;
• Daniel G. Kaye, New England Area Managing Partner, Ernst & Young LLP;
• Cleve L. Killingsworth, Jr., Chief Executive Officer, Blue Cross Blue Shield of Massachusetts;
• Stacey Lucchino, Board Vice-Chair, YMCA of Greater Boston and Board member, Harvard’s Program for After-School Education;
• Karen L. Webster, President, Center for Marketing Effectiveness (CeME);
• Jim Westra, Esq., Partner, Weil, Gotshal & Magnes LLP; and
• J. Keith Motley, Ph.D., Vice President for Business and Public Affairs, University of Massachusetts.

2006 Campaign Co-Chairs

• William K. Bacic, Managing Partner, New England, Deloitte & Touche LLP;
• Ronald Logue, Chairman and Chief Executive Officer, State Street Corporation;
• Gloria Cordes Larson, Esq., Co-Chair, Government Practices Group, Foley Hoag LLP;

About Bob Mahoney

Mahoney has been involved in the Boston banking scene since he landed that first job in 1971 at Bank of Boston. Over the next 22 years, he worked his way up through the company to ultimately become the head of commercial lending throughout New England before leaving in 1993 to become President and Chief Executive Officer of Citizens Bank of Massachusetts. At Citizens, Mahoney helped transform the little-known upstart bank into a $6 billion financial services institution with over 100 branches and 1,200 employees. As Vice Chairman of Citizens Financial Group, he oversees a $ 60 billion commercial, consumer and investment banking business with 470 branches throughout the six-state region. Away from Citizens, Mahoney is a Trustee of the University of Massachusetts and Chairman of the University’s Development Committee, Vice Chairman of the Massachusetts Business Roundtable and a Trustee of Catholic Charities.

Media inquires should contact:
Jeff Bellows
Phone: 617-624-8250
Fax: 617-624-9114
E-mail: jbellows@uwmb.org