Good Banking Is Knowing and Serving in the Community

By Neil Gonzales

During Menlo College’s annual School of Business Administration Day that focused on corporate social responsibility on Nov. 19, Nick Hofer shared Boston Private Bank’s community-minded philosophy and some of his work experience. He serves as senior vice president and West Coast business leader in Boston Private Bank & Trust Co.

“They want you to be involved in the community because you can’t really serve the community if you don’t know the community – if you’re not in the community,” he told a packed room at Brawner Hall. In his case, Hofer helped start a charter school that serves mostly underprivileged children in the Boston area.

That kind of community focus has helped Boston Private earn an outstanding rating based on their CRA lending. In fact, Boston Private is among just 6 percent of banks nationwide to garner that distinction.

Menlo marketing major Joshua Picanco ’15 equated Boston Private to the college in that both are small institutions providing personalized service. “It’s like Menlo because it gives you the opportunity to have a one-on-one experience rather than banking with someone who doesn’t know you,” said Picanco, 20. Hofer’s session also got Picanco interested in working for a small company “rather than a big factory,” he said.