NEW YORK, April 24 /PRNewswire-FirstCall/ -- Sovereign Bank today
announced the appointment of Brendan J. Dugan as chairman and CEO of the
Metro New York/New Jersey Division. In his new post he will be responsible
for both Commercial and Community Banking in the region. Sovereign has 74
community banking offices in New York City and on Long Island as well as
158 offices in central and northern New Jersey.
A 38-year veteran of commercial banking in the metropolitan area, Dugan
has extensive experience in every aspect of retail and commercial banking.
Previously he was president of Sovereign's Commercial Banking division in
the Metro New York-New Jersey market.
"Brendan's business expertise and understanding of customer needs has
been a key component of Sovereign's growth in the Metro New York/New Jersey
region," said Joseph P. Campanelli, president and CEO of Sovereign Bank.
"His commitment to the community and strong business connections will
enable us to meet the needs of the customers and communities we serve."
Dugan began his career in the executive management training program at
Franklin National Bank and served in a series of senior and executive
management positions at NatWest Bank USA, becoming president of the bank in
1989. In 1991, he joined European American Bank (EAB), eventually becoming
president and chief operating officer. When EAB was acquired by Citibank in
2001, he remained at the combined entity as chief operating officer of
Citibank Commercial Markets. In 2003 Dugan became president of Business
Banking at Independence Community Bank, which was acquired by Sovereign in
2006.
Reflecting a strong commitment to community involvement, Dugan is
chairman of the Board of Trustees of his alma mater, St. Francis College of
Brooklyn where he graduated with a degree in management and economics. He
is also a member of the board of directors of the Brooklyn Academy of
Music, the Regional Plan Association, the Futures in Education Foundation
and he serves on the Finance Council of the Roman Catholic Diocese of
Brooklyn. He resides in Brooklyn with his wife, Barbara.
About Sovereign
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), the parent company
of Sovereign Bank, is a $90 billion financial institution, as of December
31, 2006, 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/
CONTACT:
Media, Michael A. Armstrong, +1-347-563-9251,
cell, +1-917-279-8437, marmstro@sovereignbank.com, or Ed Shultz,
+1-610-378-6162, cell, +1-610-207-8753,
shultz1@sovereignbank.com, both of Sovereign Bancorp, Inc.
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