Edward Hjerpe is returning to the Federal Home Loan Bank of Boston, which continues to struggle with souring mortgage holdings, as its new president and chief executive.

The appointment was announced Tuesday. Hjerpe was an executive vice president, the chief operating officer and the chief financial officer at the Boston bank from 1997 to 2004. He then moved to Webster Financial Corp., where he was a senior vice president from 2004 through 2007. He was also the president and chief operating officer of Webster Bank's Massachusetts and Rhode Island division.

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