Executive Appointments Support Company's Strategic Growth Plan
BOSTON, Jan. 7 /PRNewswire-FirstCall/ -- Sovereign Bank today announced
that Roy J. Lever has joined Sovereign Bank as Executive Vice President and
Managing Director of Retail Banking. Sovereign also announced that Patrick
J. Sullivan, Executive Vice President, has been promoted to Managing
Director of Commercial Banking. Lever and Sullivan will report directly to
Sovereign President and CEO Joseph P. Campanelli and will play key roles in
the company's accelerated growth initiatives throughout the company's
eight-state region. Both are newly created positions and the appointments
are effective immediately.
Lever will oversee all retail banking and marketing activities for the
company, including Sovereign's 750 Community Banking Offices across the
Northeast. Sullivan will direct all commercial and corporate banking
activities for Sovereign.
"These appointments will enhance the quality and depth of our existing
management team," Campanelli said. "And by investing strategically in our
core retail and commercial franchises, Sovereign will be positioned to grow
revenues substantially from its existing customer base. We intend to know
our customers and their needs better than ever before, and Roy and Pat are
the right leaders to make sure we maximize those customer relationships."
Lever brings more than three decades of retail banking experience to
Sovereign, with an extensive background in managing large business
divisions. Prior to joining Sovereign he held a number of executive
management positions at Bank of America in its Global Consumer and Small
Business Bank division, most recently as Senior Vice President in charge of
Compliance, Risk and Operations. Prior to its acquisition by Bank of
America, he spent 29 years at FleetBoston Financial in a variety of
management roles, including Director of Delivery Support and Director of
Branch Banking. He holds a bachelor's degree in business administration
from Northeastern University in Boston.
Sullivan has 30 years of experience in banking and financial services.
He joined Sovereign in 2000 to oversee the bank's commercial banking
activities in Massachusetts, as well as various specialty lending groups.
In 2005, he was appointed Market CEO for Massachusetts and in 2007 he was
appointed CEO of the New England North market. Prior to joining Sovereign,
Sullivan served as President and Chief Executive Officer of Howard Bank in
Burlington, Vt. He holds a bachelor's of science degree and a master's
degree in business administration from Bryant University, Smithfield, R.I.
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent
company of Sovereign Bank, a financial institution with $87 billion in
assets as of Sept. 30, 2007 with principal markets in the Northeast United
States. Sovereign Bank has 750 community banking offices, over 2,300 ATMs
and approximately 12,000 team members. Sovereign offers a broad array of
financial services and products including retail banking, business and
corporate banking, cash management, capital markets, wealth management and
insurance. Sovereign is the 18th largest banking institution in the United
States. For more information on Sovereign Bank, visit
http://www.sovereignbank.com or call 1-877-SOV-BANK.
Sovereign Bank is a registered trademark of Sovereign Bank or its
affiliates or subsidiaries in the United States and other countries.
SOURCE Sovereign Bank
 back to top
Related links:
http://www.sovereignbank.com
CONTACT:
Ed Shultz, Office +1-610-378-6159, Cell
+1-610-207-8753, or Ellen Molle, Office +1-617-757-5573, Cell
+1-617-548-9932
|
