Boston Bancorp has named a new top executive almost eight months after its top two officials resigned following regulatory criticism. The move could put to rest rumors that the company is preparing to sell.

The $2.1 billion-asset holding company has appointed Robert E. Lee as chairman, president, and chief executive, replacing Peter H. Hersey. Mr. Lee, 53, who had been a vice president, was also named president and chief executive of Boston Bancorp's state-chartered savings bank subsidiary, South Boston Savings Bank.

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