Eastern names Borgen to board of directors

Boston, MA Eastern Bank has added Luis Borgen, chief financial officer at DAVIDsTEA, to its board of directors.

“Eastern Bank is very pleased to add Luis to our board of directors,” said Richard Holbrook, Eastern’s chairman and chief executive officer. “Luis is an impressive CFO with a strong background in consumer and retail businesses that will strengthen our board and leave us well-positioned to better serve the people and businesses of New England.”

Borgen spent 13 years at Staples where he ascended to divisional CFO for all U.S. stores, followed by two years as CFO of DaVita Health Care Partners.

For the past four years, he has served as CFO of DAVIDsTEA, where he successfully completed an IPO and continues to drive significant growth in new stores and profitability.

Borgen grew up in Nicaragua and immigrated with his family to Miami at the age of six. He is a graduate of the U.S. Air Force Academy and earned his M.S. degree in Finance from Boston College and M.B.A. from the University of Chicago Booth School of Business.

Founded in 1818 and based in Boston, Eastern Bank is the oldest and largest mutual bank in the United States, with $10 billion in assets and nearly 100 branches serving communities in eastern Massachusetts and southern and coastal New Hampshire. Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way. Eastern Bank, which includes Eastern Wealth Management and Eastern Insurance, is a recognized leader in corporate social responsibility and for its advocacy on behalf of a number of social justice causes.