BancBoston Capital has hired a nine-year veteran of Chase Capital Partners as its chief financial officer.
In the newly created position, Donna Carter, who was executive director of finance and administration at the Chase unit, will be responsible for finance, accounting, control, and regulatory policies for the venture capital and private equity arm of BankBoston Corp. She will report to Rick Fritz, president of BancBoston Capital.
Ms. Carter replaces Zachary Edmonds, former treasurer of the group. Mr. Edmonds, who now reports to Ms. Carter, will help with her new duties and also focus on BancBoston's portfolio.
The changes are part of BancBoston's effort to streamline the functions of its staff as the group expands as an investor on a global level, Mr. Edmonds explained. BancBoston Capital has been in the private equity business for 38 years and invested $400 million in 1996.