While Mark Lindsay was leading advances in the custom composite boatbuilding industry, BBW partner Scott Smith was looking for business challenges that would take advantage of his energy and natural curiosity about how to make things work better.
He started out with the impossible task of trying to figure out what makes all of us tick. Scott's bio-medical engineering studies at Boston University had put him on a career path that started with autopsies at Boston City Hospital and third-shift duties at a medical laboratory processing unspeakable samples. He decided that his curiosity had been more than satisfied and he wasn't about to stick around to see what the next post might be. He quickly changed tacks.
Maybe the financial markets would be more orderly. So, Scott started exploring the nascent mutual fund industry in 1981. He found a suitable opportunity at the rapidly growing Boston Financial Data Services company (BFDS), a shareholder record-keeping and payment processing facility. This was making more sense. In recognition of the contributions he made toward the firm's success as the industry's fastest-growing service provider, BFDS awarded Scott a series of promotions based upon his ability to effectively manage groups of people (learned something from those autopsies) and streamline and improve productivity in high-volume processing operations. He made his most dramatic gains as a vice president of operations, managing 110 people in three separate departments, one of which was a three-shift, 7-day-per-week mutual fund contribution processing department handling an average of $60 million in mutual fund asset purchase transactions daily. All three departments served internal as well as external customers, each with a variety of complex needs. During this time, Scott oversaw the conversion of manual records storage and research to an automated record handling and retrieval system.
Scott left BFDS in 1989 to join Shawmut Bank, N A, to take on the challenge of overseeing a major systems conversion within the securities movement and control department. After the successful migration of over $15 billion in bank and customer assets to a new computer system, Scott was promoted to vice president and department manager for the Employee Benefits Asset Management Department within Shawmut's Investment Advisory Group. Subsequently, Scott took over management of the Not-For-Profit Investment Advisory Department, which advised charitable and 501(c) corporations on endowment and corporate asset management. Here he managed large client relationships and oversaw the administration of all NFP accounts for the bank. During this time, Scott was instrumental in the development and implementation of a market strategy to enter these two growing market areas.
Having met those challenges, Scott left Shawmut in 1995 to form Boston BoatWorks, LLC with Mark Lindsay and pursue his desire to build a company with others who share a vision: A company whose success is measured by the satisfaction of its key constituents, including customers, employees, vendors, community and owners. A lifelong sailor, sailing competitor, technophile and entrepreneurial spirit, Scott saw in Boston BoatWorks the opportunity to combine his personal and business interests and build an exciting enterprise with Mark on the platform of Boston's revitalized harbor and Mark's expertise.
But, Boston BoatWorks goes beyond being just another boat building operation. There's a sense of mission and history in this project. Scott's active interest in contributing to community, harbor and business issues has led him to participate over the years as:
* Director of the East Boston Chamber of Commerce
* Chairman of the East Boston Economic Development Council
* Founder and trustee of East Boston's not-for-profit sailing program, Piers Park Sailing, Inc.
* Member of the Boston Redevelopment Authority's Municipal Harbor Planning Advisory Committee
* Trustee of The Boston Harbor Association.