PHILADELPHIA, Jan. 16 /PRNewswire-FirstCall/ -- Sovereign Bancorp, Inc.
("Sovereign") (NYSE: SOV), parent company of Sovereign Bank ("Bank"),
announced today that its Board of Directors unanimously approved Joseph P.
Campanelli as permanent President and Chief Executive Officer of both
Sovereign and Sovereign Bank and also appointed Campanelli as a director of
both Sovereign and the Bank's Board of Directors.
(Photo: http://www.newscom.com/cgi-bin/prnh/20070116/NYTU209 )
Sovereign also elected P. Michael Ehlerman non executive Chairman of
the Board of Sovereign and the Bank.
Campanelli has been an executive team member of Sovereign since 1997
and he previously served as Sovereign's Vice Chairman and as Chief
Executive Officer of Sovereign Bank's New England division. Campanelli
joined Sovereign Bank in 1997 as president and chief operating officer of
Sovereign Bank New England. He played an active role in the acquisition and
integration of the FleetBoston divested business units, the largest branch
divestiture in the history of the United States. Prior to joining
Sovereign, Campanelli spent nearly 20 years serving in a variety of
executive positions with both Fleet and Shawmut Bank. He began his banking
career in Hartford, Connecticut in 1979.
Ehlerman, Chairman of Yuasa Battery, Inc. in Laureldale, PA., was
elected to the Sovereign Bancorp's Board of Directors in September 2002 and
has served as a member of the Sovereign Bank Board of Directors since 2001.
He has served as Chairman of Yuasa since 2000 and as Chairman and CEO from
October 2000 until October 2003.
About Sovereign
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), the parent company
of Sovereign Bank, is a $90 billion financial institution with nearly 800
community banking offices, over 2,000 ATMs and approximately 12,000 team
members with principal markets in the Northeast United States. 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
SOURCE Sovereign Bancorp, Inc.
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Related links:
http://www.sovereignbank.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20070116/NYTU209
AP Archive: http://photoarchive.ap.org AP PhotoExpress
Network: PRN8 PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
FINANCIAL: Mark McCollom, +1-610-208-6426,
mmccollo@sovereignbank.com, or Stacey Weikel, +1-610-208-6112,
sweikel@sovereignbank.com; or MEDIA: Ed Shultz, +1-610-378-6159,
eshultz1@sovereignbank.com, all for Sovereign Bancorp, Inc.
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