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WATERVILLE, MAINE, Sept. 4—Eric Rosengren ’79, president and chief executive officer of the Federal Reserve Bank of Boston, has been named the next chair of Colby College’s Board of Trustees. Rosengren will formally assume this volunteer position in May of 2016.

Eric RosengrenRosengren, a Colby graduate who credits the College for inspiring his interest in economics, went on to earn a Ph.D. from the University of Wisconsin, Madison. President of the Boston Fed since 2007, he has developed a reputation for his deep intellect and unbiased analysis as well as his passion for improving the lives of the American public through policymaking.

“Colby is tremendously fortunate to benefit not just from Eric’s strong commitment to the College but also from his very sophisticated data-driven analysis,” said current Chair of the Board Robert E. Diamond Jr. ’73. “This is an institution that, in its 200-year history, has continued to grow in quality and stature—and Eric is the person to lead the board and partner with the College’s president to help realize Colby’s highest aspirations.”

Since joining the board in 2010, Rosengren has been a valued contributor to numerous committees including the Educational Policy Committee, the Presidential Search Committee, and the Admissions and Financial Aid Committee, for which he is currently the chair.

“Colby has long benefited from incredible leadership and exemplary governance, and that only became more evident during Bob Diamond’s remarkable tenure as board chair,” said Colby President David A. Greene. “Eric will build on that tradition, and the College will benefit from his deep insights and incisive questioning. His commitment to strengthening communities and to education as a fundamental driver of social and economic progress fits perfectly with Colby’s mission and priorities.”

Under the leadership of Greene, Rosengren, and the entire board, the College aims to make itself even more accessible to the most-qualified students regardless of their financial means, to establish leading programs and partnerships that build upon existing academic strengths, and to become a global leader among liberal arts colleges.

“I am thrilled to have the opportunity to contribute to my alma mater in this way,” said Rosengren. “The Colby board is made up of tremendously committed and ambitious individuals who are passionate—as am I—about the value of higher education for individuals and society. I consider it an honor that these board colleagues, whom I hold in the highest regard, have selected me for this leadership role in the next phase of Colby’s history.”

Rosengren is the parent of a 2012 Colby graduate who is currently attending medical school.

Prior to assuming the presidency at the Federal Reserve Bank of Boston in 2007, Rosengren headed the bank’s supervision, regulation, and credit group and was active in domestic and international regulatory policy. He has written extensively on macroeconomics, international banking, bank supervision, and risk management, including articles in leading economics and finance journals. Much of his research has focused on how problems in the financial sector impact the real economy.

Trustee and former chair Joseph F. Boulos ’68 and Trustee Lou Richardson ’67 co-chaired the committee that presented Rosengren’s candidacy to the full board. “Every member of the board contributed to the thinking about the attributes Colby needed in its next board chair,” said Richardson. “Eric’s deep expertise in organizations, risk, and institution building; his devotion to Colby; and his belief that the College is ideally situated to build on its distinctive history and identity make him the perfect choice to partner with President Greene and the board at this important time,” she said. Added Boulos, “Eric’s commitment to collaborative leadership and the full integration of diverse perspectives is essential to the board and to Colby, and we’re delighted that the board voted unanimously to make him our next chair.”

Founded in 1813, Colby is one of America’s most selective colleges and the first previously all-male college in New England to admit women. Serving only undergraduates, Colby offers a rigorous academic program rooted in deep exploration of ideas and close interaction with world-class faculty scholars. Students pursue intellectual passions, choosing among 57 majors or developing their own. Independent and collaborative research, study abroad, and internships offer robust opportunities to prepare students for postgraduate success. Colby is home to a community of 1,850 dedicated and diverse students from around the globe. Its Maine location provides easy access to world-class research institutions and civic engagement experiences.