NEW YORK, Feb. 26, 2013 /PRNewswire/ -- M&T Bank executives Gino Martocci, Peter D'Arcy and Paula Mandell have been assigned broader management roles to execute the bank's pending acquisition of New Jersey-based Hudson City Savings Bank.
The new management structure was established to help M&T integrate its acquisition of Paramus-based Hudson City Savings Bank, which has a network of 135 branches - with 97 located in New Jersey, 29 in New York State and 9 in Connecticut. Since Hudson City Savings Bank is focused mainly on taking deposits and making residential mortgages, M&T will extend its commercial banking operations into Hudson City's branch network. The merger, subject to regulatory and shareholder approval, is expected to close in the second quarter of 2013.
"Hudson City has a long history as an excellent savings bank in New York City, New Jersey and Connecticut. M&T now has the opportunity to bring our successful commercial banking services and our premier wealth management and corporate trust solutions into Hudson City's communities," said M&T Bank Chairman and CEO Robert G. Wilmers. "Our depth of experienced bankers in New York City will be drawn on to expand our services through the entire tri-state region."
Gino Martocci will assume the role of Metro Area Executive for M&T, responsible for M&T's businesses in New York City, Long Island, Northern New Jersey, Central New Jersey, Connecticut, Westchester County, NY and Rockland County, NY. Martocci has been New York City regional president for M&T Bank since late 2009, where he helped manage more than $3 billion of customer deposits and more than $8 billion of loans and leases. Martocci has been with M&T since 1995.
Peter D'Arcy, group vice president for commercial real estate in New York City, has been promoted to succeed Martocci as New York City regional president. D'Arcy joined M&T in 1995 and his career has included management experience in retail banking, business banking and private banking. D'Arcy has led M&T's commercial real estate group in New York City since 2006, helping M&T expand the regional commercial real estate division's portfolio from $4.2 billion in 2006 to $5.8 billion at the end of 2012.
M&T's commercial banking in New Jersey and Connecticut will continue to be managed by Regional President Paula Mandell, who also serves as regional president in Westchester County, NY, and Rockland County, NY. Mandell has almost 40 years of experience in the banking industry. She has headed M&T's operations in Westchester and Rockland counties since 2001. She will continue working closely with Martocci to build M&T's commercial banking operations and client base in New Jersey and Connecticut.
Both Peter D'Arcy and Paula Mandell will report to Gino Martocci.
Gino Martocci will continue to report to New York City-based Executive Vice President Kevin Pearson, who is a member of the company's 14-member Management Group. Pearson has 27 years of financial services industry experience, including 23 years at M&T Bank.
M&T Bank, founded in 1856, is one of the top 20 independent commercial bank holding companies in the nation, with more than $83 billion in assets and more than 725 branch offices in New York, Pennsylvania, Maryland, Delaware, Virginia, West Virginia, and the District of Columbia. Read more about M&T Bank online at www.mtb.com/newsroom.
Media Contact Information: Chet Bridger 716-842-5182
SOURCE M&T Bank