On January 15, 2014, Eugene S. Colangelo and Allen L. Sinai informed the Board of Directors of Boston Private Financial Holdings, Inc. of their intention not to stand for re-election at the company's 2014 Annual Meeting of Shareholders, when their respective terms expire, and to step down from the Board of the company effective as of the date of the company's 2014 Annual Meeting. Mr. Colangelo currently serves as Vice Chair of the Compensation and Governance Committee of the Board. Dr. Sinai currently serves as a member of both the Audit and Finance Committee and Risk Management Committee of the Board.

The decisions by Dr. Sinai and Mr. Colangelo not to stand for reelection are not as a result of any disagreement with the company or the Board of Directors.