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EX-99.1 - PRESS RELEASE - BOSTON PRIVATE FINANCIAL HOLDINGS INCd397890dex991.htm

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): August 15, 2012

 

 

Boston Private Financial Holdings, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Massachusetts   0-17089   04-2976299

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification Number)

Ten Post Office Square, Boston, Massachusetts 02109

(Address of principal executive offices)

(617) 912-1900

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the fling obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 8.01. Other Events.

On August 15, 2012, Anchor Capital Advisors LLC (“Anchor”), a majority owned subsidiary of Boston Private Financial Holdings, Inc. (the “Company”) entered into a definitive agreement to hire Michael C. Pierre as Senior Vice President and Portfolio Manager and to acquire the client accounts that he manages from Moody Aldrich Partners LLC, representing an expected $505 million in assets under management.

The Company estimates that the transaction will result in approximately $3 million of additional revenue for the Company on an annual basis. The transaction is expected to close in the fourth quarter of 2012 following the receipt of client consents and the satisfaction of other conditions in the agreement.

On August 16, 2012, Anchor issued a press release announcing the transaction. The text of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit
No.

  

Description

99.1    Press Release of Anchor dated August 16, 2012.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunder duly authorized.

 

    BOSTON PRIVATE FINANCIAL HOLDINGS, INC.
    By:  

/S/    DAVID J. KAYE        

    Name:   David J. Kaye
    Title:   Chief Financial Officer
Date: August 20, 2012