Professional Profile: Barry Queen - 1983

Name: Barry Queen - 1983

Title: Vice President

Company: Mutual Bank for Savings

Location: Newton, MA

  Barry Queen is vice president of the Mutual Bank for Savings in Newton, Mass., and president of the Mutual Investment Group (real estate) for five banks in the Bay State.   Born in Springfield, Mass., in 1942, Barry received his bachelor of science degree in Sociology from St. Lawrence University in 1963. He was awards his L.L.B., cum laude, six years later from Western New England College.   At the Mutual Bank, he oversees the commercial loan portfolio; oversees, negotiates and manages equity ventures; and handles investment properties the bank has acquired or built.   “By 1986, we would like to have between $50 and $60 million invested in equities,” Barry told us. “We plan to grow logically and slowly so we will have a secure base which will create a company that will be around for a long time. Our objective is not to invest in individual properties, but to run it as a business, so we can look at each property as a product of the company.”   The bank’s goal is not unlike other development and investment firms: “…the development of real estate and to invest in properties that will increase in value throw off a good cash flow capable of being financed to a great extent either by Mutual Bank, one of its affiliates or a completely independent bank. This would create both equities and cash flow for the subsidiary and then the bank, so the bank can have earnings. And it’s working.”   The company plans to expand in Mass., then look into the contiguous states, spreading throughout New England.   Barry’s professional affiliations include the American Bankers Assn., National Assn. of Mutual Savings Bank, National Mortgage Policy Committee, National Urban Investment Council, American and Massachusetts Bar Associations.   The young father and banker enjoys spending time with his wife Nikki and daughters Heidi and Dara. “We are very active in out Jewish community. Nikki and me are the youth commissioners for our temple; and both our children are involved in the temple youth group. We are also active members of the Jewish Community Center, as chairmen of the facilities committee. Our work with J.C. Center includes taking care of the building and managing its daily operations,” Barry told us.   “We spend much of our free time with our daughters. Heidi likes skiing and Dara enjoys riding. She participates in jumping shows with the family horse. I enjoy working on and rebuilding old cars; also developing property; and I feel very fortunate because I enjoy my work so much. I look at it as a hobby, being able to take a piece of land and make it into a beautiful property.”   What does a young man doing what he likes to do consider his greatest achievement (so far)? “Passing my Bars, after 12 years out of law school.” That was just two years ago; no small achievement, indeed.