WAYNE, N.J., April 18 /PRNewswire-FirstCall/ -- Valley National Bank,
the wholly-owned subsidiary of Valley National Bancorp (NYSE: VLY),
announced today the completion of an organizational review that in part
creates a newly formed Office of the Chairman and expands the
responsibilities of Valley's Executive Vice Presidents. Members of the
committee include Peter Crocitto, Al Engel, Alan Eskow, and Robert Meyer.
With the creation of this office, Valley is centralizing the leadership of
critical elements of the company's infrastructure to build upon its
commitment to a top level service culture.
In connection with this strategic move, Peter Crocitto, Executive Vice
President since January 1996, has been designated Chief Operating Officer.
In addition to his current responsibilities of technology, operations,
retail banking and human resources, he will assume the additional
responsibilities of the marketing department.
Mr. Alan Eskow, CFO, will give oversight to an expanded treasury
function, risk management, as well as Valley's wealth management division.
Mr. Meyer will continue as head of the commercial lending group and Mr.
Engel will remain head of the retail lending group.
Mr. Lipkin, Chairman, President and CEO, commented that these changes
will enable Valley to structure itself for continued growth and long term
succession. In addition, Lipkin added "the Executive Vice President's team
approach will continue to enhance the effectiveness of Valley's
performance.
Valley National Bancorp is a regional bank holding company with over
$12 billion in assets, headquartered in Wayne, New Jersey. Its principal
subsidiary, Valley National Bank, currently operates 176 branches in 114
communities serving 13 counties throughout northern and central New Jersey,
Manhattan, Brooklyn, and Queens. Valley is one of the largest commercial
banks headquartered in New Jersey and is committed to providing the most
convenient service, the latest in product innovations and an experienced
and knowledgeable staff with a high priority on friendly customer service
24 hours a day, 7 days a week. Valley offers a wide range of deposit
products, mortgage loans and cash management services to consumers and
businesses including products tailored for the medical, insurance and
leasing business. Valley's comprehensive delivery channels enable customers
to bank in person, by telephone or online.
SOURCE Valley National Bank
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Related links:
http://www.valleynationalbank.com/
http://www.prnewswire.com/comp/141340.html /
CONTACT:
Dianne M. Grenz, First Senior Vice President,
Director of Marketing, +1-973-305-4005
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