PHILADELPHIA, March 22 /PRNewswire/ -- Sovereign Bank Chairman and CEO Jay
S. Sidhu will address students today at the University of Penn's Wharton
School of Business on the growth of Sovereign in recent years. Sidhu has been
invited to speak to Wharton students by Delta Sigma Pi, a professional
business fraternity on campus. He will appear at 5 p.m. at Jon M. Huntsman
Hall.
"Given the significant growth of Sovereign Bank in recent years, we
thought it would be great to have Mr. Sidhu talk to Wharton students about his
success," said Cleveland Burthey, president of Delta Sigma Pi. "We've asked
him to discuss the importance of vision when expanding a corporation and to
provide details regarding the development of a corporate strategy and the
challenges that arise throughout this expansion process."
Sidhu was named chairman of Sovereign Bank and Sovereign Bancorp, Inc.,
parent company of Sovereign Bank, in April of 2002, and has been president and
chief executive officer of Sovereign Bancorp, Inc. and Sovereign Bank since
1989. Under Sidhu's stewardship, Sovereign has grown from a local $400
million savings bank with a market capitalization of only $12 million into a
pro forma $82 billion super-regional banking institution. Currently,
Sovereign is the 18th largest banking institution in the nation.
"I am honored to be invited to speak to these Wharton students today and
look forward to the opportunity to share my business insights with them,"
Sidhu said.
About Sovereign Bank
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company
of Sovereign Bank, a $64 billion financial institution headquartered in
Wyomissing, Pa., with more than 650 community banking offices, over 1,000 ATMs
and approximately 10,000 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.
Sovereign Bank, its logo and lantern are service marks of Sovereign Bank
or its affiliates or subsidiaries in the United States and other countries.
SOURCE Sovereign Bank
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Related links:
http://www.sovereignbank.com
CONTACT:
Carl Brown of Sovereign Bank,
+1-610-378-6162, or cbrown6@sovereignbank.com
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