Joel Alvord, who recently retired as chairman of Fleet Financial Group
Mr. Alvord has already lined up his old company as his first investor.
The name of the new venture is Shawmut Equity Partners, harking back to
Mr. Alvord intends to invest in financial services companies,
The 58-year-old bank veteran isn't jumping alone into the new business.
His partners are Allen W. Rork, president of the consulting company
Mr. Alvord's fund was first reported in The Boston Globe.