Advisors

Dr. Robert M. Freund, Deputy Dean and Theresa Seley Professor, Operations Research, MIT
A. James Lavoie, Former Chairman and CEO, Middlesex Savings Bank
Robert M. Mahoney, Former Executive Vice Chairman of Citizens Financial Group (CFG)
Jim Feldt, Former EVP and President Merchandising & Marketing, Toys-R-Us
Jim Delamater, President, Northeast Bankcorp

Dr. Robert M. Freund, Deputy Dean and Theresa Seley Professor, Operations Research, MIT

Dr. Freund is currently a co-director at the MIT Program in Computation for Design and Optimization, Deputy Dean at MIT's Sloan School of Management and associate editor of the journal Mathematical Programming. He is the former co-director of the MIT Operations Research Center and former chair of the Optimization Section of INFORMS. He has been published in over 50 notable journals in optimization and related subjects, and is frequently invited to speak about his research at conferences and university colloquia.

Dr. Freund's research is in the area of continuous optimization models and algorithms, both theoretical and applied. His theoretical work is focused on the underlying mathematical structure of optimization models. His applied work has examined real-time computer pattern recognition, cluster analysis in data mining and dynamic conjoint analysis for new product development. He teaches doctoral courses in optimization and master's courses in quantitative methods for management. He is a co-author of the textbook Data, Models, and Decisions (Dynamic Idea 2004).

Dr. Freund was honoured with the Longuet-Higgins Prize in computer vision and pattern recognition in 2007. During his time at MIT's Sloan School of Management, he has received eight Teaching Excellence Awards, the MIT Class of 1960 Innovation in Education Award and the Class of 1960 Faculty Fellow.

Dr. Freund received his B.A. in Mathematics from Princeton University. He received his M.S. and Ph.D. in Operations Research from Stanford University.

A. James Lavoie, Former Chairman and CEO, Middlesex Savings Bank

Mr. James Lavoie's thirty-six year banking career is notable for his achievements at Middlesex Savings Bank, for his work with government and industry bodies, and his contributions to the community.

Mr. Lavoie served as Chairman and CEO, 1996 to 2007, and is currently a trustee of Middlesex Savings Bank in Natick, MA. Since being named CEO in 1996, Middlesex Savings Bank has grown from $1.2 billion in assets with 15 branches to $3.4 billion in assets and 25 branches, while staying true to its mutual charter. During his tenure Middlesex bank developed a number of new consumer and business product lines and he has been a strong advocate for utilizing the latest technological tools and capabilities available for the benefit of the banks' customers and employees.

Mr. Lavoie's abilities and commitment to excellence in banking have been recognized both by the Massachusetts Bankers Association and American Bankers Association. He served as Chairman of the Massachusetts Bankers Association for 2006-2007. The Massachusetts Bankers Association represents 210 commercial, savings, and co-operative banks and savings and loan institutions in Massachusetts and elsewhere in New England. Established in 1905, member banks hold over $523 billion in deposits.

He also served the American Bankers Association, serving on their board of directors from 2000 to 2003 and as chairman of the Government Relations Council in 2004. In addition Mr. Lavoie was Chairman of the Depositor's Insurance Fund of Massachusetts, 2004-2007, and was a member of the banking advisory council for the Massachusetts Office of Consumer Affairs & Business Regulation. He is currently a director of Savings Bank Life Insurance of Massachusetts.

In 1998 Mr. Lavoie received the MetroWest Business Leader of the Year award for his "deep and productive involvement in the economic life of our community." Mr. Lavoie also served as a trustee of the Walnut Hill School in Natick. In addition he was President and director of the Middlesex Savings Charitable Foundation.

Mr. Lavoie received his B.S.B.A from Salem State College in 1971. He also received a degree from Fairfield University's National School of Finance and Management in 1981.

Robert M. Mahoney, Former Executive Vice Chairman of Citizens Financial Group (CFG)

Robert M. Mahoney retired as Executive Vice Chairman of Citizens Financial Group (CFG) in 2008. He joined CFG in 1993 as President and CEO of Citizens Bank of Massachusetts after serving 22 years in various domestic and international management positions at Bank of Boston. During his five years as President of Citizens in Massachusetts, Mahoney led the new bank through significant expansion, growing it to more than 100 branches and 1,200 employees.

From 1999 to 2003, he was responsible for CFG’s Risk Management including Credit, Compliance and Operational Risk areas. In 2004, Mahoney led all of the Retail and Commercial Banking activity in New England and later he took over responsibility for Commercial Banking across the company. This $20 billion business spanned 13 states with 1,200 commercial bankers and also included Government Banking, Commercial Insurance, Private Clients and Investment Management.

Mahoney has had a passion for customers throughout his banking career and most recently focused on Citizens’ commercial customers bringing ideas and capital to their business opportunities. He has a particular interest in international banking with a focus on China.

Mahoney has held several community leadership positions in Massachusetts. He is Chairman of the United Way Board of Directors and Executive Committee and serves on the University of Massachusetts Amherst Foundation board. He is also a co-founder and sits on the Advisory Committee of Community Gems, a collaboration of non-profit agencies that work together with community partners to meet the diverse needs of the Greater Boston area’s youth and families. He is a board member of the Sitel Corporation, a $1.5 billion worldwide customer-service firm in Nashville.

Mahoney received his M.B.A. from Columbia Business School in 1971. He is a 1970 graduate of the University of Massachusetts, where he earned a Bachelor of Science degree in Chemistry. He received the 1996 Distinguished Alumnus Award from the University of Massachusetts and the 2006 Columbia University, School of Business Leadership Award.

Jim Feldt, Former EVP & President Merchandising & Marketing, Toys-R-Us

Mr. Feldt brings three decades of retail merchandising experience. Most recently, from 1999 to 2005, Jim served in the position of Executive Vice President, President Merchandising & Marketing at Toys "R" Us. Toys "R" Us, Inc. is one of the leading retailers of toys and baby products with more than 1,400 freestanding toy and baby specialty stores worldwide.

Previously, Jim held the position of Executive Vice President, President Merchandising & Marketing at Value City Department Stores from 1997 to 1999.

His long and successful career started at Hills Department Stores. Jim was at Hills from 1977 to 1997 and grew to serve as Executive Vice President, General Merchandise Manager. Hills was the nation’s eighth largest discount retailer, with annual sales of approximately $2 billion, operated 155 stores in 12 states with over 8500 employees. Hills was acquired by Ames in 1998.

Jim graduated from Northeastern University in 1977.

Jim Delamater, President, Northeast Bankcorp

Jim Delamater has served as the leader of Northeast Bank, Northeast Bancorp (AMEX:NBN) and all related companies since 1981. Since then he has overseen 25 years of growth.

During Delamater's tenure, the Company has grown from one community bank with $18 million in assets, 10 employees and limited services to a corporation with assets of over $567 million (as of December 31, 2005), more than 230 employees and 25 retail business outlets. The Company now directly serves communities and clients throughout western, central and mid-coastal Maine, and counts companies in New Hampshire among its clients.

In addition to being a board member of Northeast Bancorp and its subsidiaries, Delamater is a past Chairman of both the Maine Bankers Association and the Maine Association of Community Bankers. Prior to his career with Northeast, he served as a licensed representative for the New York Stock Exchange with a major stock brokerage firm and was an officer with Oxford Bank & Trust. Jim is also a published author recently releasing The Great American Mismatch in 2004.

Delamater served in the US Air Force after which he attended the University of South Carolina and University of Southern Maine.

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