Boston Fed announces 2 new members of the 2021 New England Advisory Council Boston Fed announces 2 new members of the 2021 New England Advisory Council

CEOs from Mass., R.I. companies to advise Reserve Bank on regional economic conditions CEOs from Mass., R.I. companies to advise Reserve Bank on regional economic conditions

January 22, 2021

The Federal Reserve Bank of Boston on Friday announced two new members of its New England Advisory Council, a group of business leaders which advises the Bank on regional economic conditions.

Junior Jabbie, president and chief executive officer of Banneker Supply Chain Solutions in Rhode Island, and Larry LaFreniere, president and chief executive officer of the Electric Supply Center in Massachusetts, joined the NEAC effective Jan. 1.

Jabbie’s company is a supply chain management solutions company and third-party logistics provider. LaFreniere’s company is an electrical product supplier.

The NEAC is convened by Boston Fed President and CEO Eric Rosengren and includes senior leaders of small- to mid-sized businesses throughout New England. Members advise the Bank about underlying economic trends as viewed through the prisms of their companies and industries.

“We’re thrilled to welcome Junior and Larry to the New England Advisory Council,” Rosengren said. “They’re joining the council at a unique time, as businesses across the First District try to navigate challenges brought on by the pandemic. We need strong communication between leaders in the New England economy and the Federal Reserve more than ever.”

Returning member Amy Latimer, president of TD Garden, will retain her position as chair of the 2021 NEAC.

“It’s great to welcome Junior and Larry to the council, I’m looking forward to getting their insights,” Latimer said. “This council really is a mix of wonderful people from diverse industries who know business, who know the trends. I know I benefit from hearing from them, and I think we bring a really valuable perspective to the Fed.”

Additional standing members of the council include:

  • Carol Conway Bulman, president and CEO, Jack Conway & Co.
  • Karen Colberg, Co-CEO, King Arthur Baking
  • Brad Hittle, president and CEO, Two Roads Brewing Co.
  • Greg Janey, president and CEO, Janey Construction Management and Consulting, Inc.
  • Nannu Nobis, CEO, Nobis Engineering
  • Paul Rumul, president, The Davenport Companies
  • Oliver Smith, CEO, O. & Co.
  • Kierston Van Soest, CFO, L.L. Bean
  • James T. Brett, Adviser, president and CEO, New England Council

NEAC members attend quarterly meetings with the Federal Reserve Bank of Boston and typically serve two to three years. In spirited roundtable discussions, NEAC members share perspectives on a range of business conditions, including revenue forecasts, employment practices, capital spending, and access to credit.

Additional information on the new members and their companies

Banneker Supply Chain Solutions, Inc., supports the aerospace and defense, government, manufacturing, and commercial and retail industries. Jabbie held management roles at Banneker before being named CEO in 2018 following the untimely passing of Cheryl Snead, who was a NEAC member at the time. Jabbie also serves on the board of directors for Delta Dental of Rhode Island, the Northern Rhode Island Chamber of Commerce, the Rhode Island Manufacturers Association, the United Way of Rhode Island, the American Heart Association Southern New England, and the National Small Business Association’s Leadership Council. He holds a bachelor’s degree and MBA from Bryant University and is a qualified Six Sigma Specialist (Green Belt).

ESC is a leading electrical distributor based in Burlington, Mass., with warehouses, counter sales, offices, and delivery services across New England. ESC has five locations in eastern Massachusetts, including a 135,000 square- foot distribution center in Woburn. LaFreniere became CEO at ESC in 1997. LaFreniere serves as a board trustee for Wentworth Institute of Technology, a committee member for the New England Council, a member of the President’s Council at Lahey Hospital in Burlington, and a member of Affiliated Distributors. He holds a mechanical engineering degree from Worcester Polytechnic Institute.

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