The Women’s Edge (formerly The Commonwealth Institute) together with its partner The Boston Globe, today announced BankFive is a part of the 23rd annual Top 100 Women-Led Businesses in Massachusetts list. These 100 organizations generated over $84 billion in total revenue in 2022, demonstrating that women are key drivers of the state’s economy.
“The organizations on this year’s diverse list are driving $84 billion of revenue into the MA economy and innovation across the country, from increased manufacturing capacity to breakthroughs in clinical care and therapeutics” said The Women’s Edge Chief Executive Officer Elizabeth L. Hailer. “We are honored to celebrate the Top 100 women leaders and hope it inspires others to drive for success here in our region and beyond.”
This is the second year that BankFive has appeared on the list. The financial institution ranked 71 out of 100. In addition to its economic commitment to Massachusetts, BankFive, a community bank with locations in Massachusetts and Rhode Island, announced in February for the second time in less than a year major promotions of women to leadership positions.
The roles of Chief Operating Officer, Chief Information Officer, Chief Banking Services Officer, Chief Human Resources Officer and Chief Credit Officer were filled by female, internal candidates, supporting the bank’s mission to grow and develop talent from within the bank.
“We are honored that BankFive has been recognized as one of the Top 100 Women-Led Businesses in Massachusetts,” said Anne P. Tangen, President and CEO of BankFive. “When I started my career, you didn’t see many women in leadership positions in the finance industry. At BankFive, we believe our best investments are in our employees and the communities we serve. And we believe that having the diversity of experiences, gender, and ethnicity will continue to benefit; our employees, our communities and the people and the businesses that shape them.”
This is the 23rd year that The Women’s Edge – a Boston-based nonprofit organization devoted to advancing women in leadership positions — created the list through a nomination process and reviewed both for-profit and not-for-profit organizations, and the 11th year that the list was created in collaboration with The Boston Globe. In addition to revenue or operating budget, factors considered in the evaluation included workplace and management diversity, board makeup, and innovative projects. The full list will be published in the Globe Magazine’s Women & Power issue at bostonglobe.com/magazine on November 3 and in print on November 5.
“We're proud to once again partner with The Women’s Edge to recognize these 100 remarkable women and their companies,” said Globe Magazine editor Francis Storrs. “They're driving the Massachusetts economy of today, and serving as inspiration for the leaders of tomorrow.”
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Photo: From L-R: The BankFive team-Veronica Andrade, Jennifer St. Pierre, (CEO) Anne Tangen, Maureen Terranova, and Christina Johnk at The Women’s Edge Top 100 Women-Led Businesses’ event. This is the second year in a row that Tangen and BankFive were selected for the honor.