PeoplesBank CEO Douglas Bowen Named Top Innovator
HOLYOKE, MA (June 1, 2011) — For the first time, the Boston Globe has recognized 30 leaders, champions, and visionaries as part of its annual Globe 100 survey of top public companies. Douglas A. Bowen, president and CEO of PeoplesBank, was selected as the number one innovator in the banking, finance, and insurance category. He serves as the leader of a mutually chartered bank that is essentially owned by its depositors, not stockholders. He and the other nominees were chosen by 70 judges who included business executives, academics, and venture capitalist. In all there were 211 nominations in 25 different industries.
The Boston Globe described Bowen’s work as follows: “In a conservative industry, Bowen has a reputation for bold moves; for example, the bank’s unusual commitment to green values.” The article noted that the bank has provided more than $40 million in financing for renewable energy projects and that it has another $15 million for similar efforts in the pipeline. It also highlighted PeoplesBank’s green construction efforts, including a LEED® Silver certified office in Springfield and another LEED registered office in West Springfield that will open in the near future.
“It was a part of our strategic plan,” said Bowen. “We realized that it would be a sustainable point of differentiation for us to align our organizational values with those of our employees and the community. But an idea is nothing without execution, and we have more than 240 engaged employees who have been recognized for their commitment to the environment, the charitable contributions they make, and the volunteer hours they have donated as well.”
PeoplesBank is the largest mutually chartered bank in Western Massachusetts and a leader in green values, sustainable energy financing, and charitable giving. Founded in 1885, the bank has been recognized by the Boston Business Journal as a top corporate charitable contributor in Massachusetts, and its employees were listed as number two in the state for volunteer hours contributed. PeoplesBank – a passion for what is possibleSM.