M&T Bank Appoints Leadership to Execute Acquisition
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 Paramus, NJ-based Hudson City Savings Bank.
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 and has been with M&T since 1995.
D’Arcy, group VP 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.
M&T’s commercial banking in New Jersey and Connecticut will continue to be managed by regional president 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 will continue working closely with Martocci to build M&T’s commercial banking operations and client base in New Jersey and Connecticut.
The new management structure was established to help M&T integrate its acquisition of 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.”