BOSTON, June 18 /PRNewswire-FirstCall/ -- Sovereign Bank today
announced that Kevin J. Sullivan, senior vice president, has been appointed
as director of the Government Banking unit. Based in Boston, Sullivan will
oversee all activities related to providing banking services for local,
city and state governments and agencies through the Northeast. Sullivan
replaces previous director Rosalin Acosta, who the bank announced today
would lead the Wealth Management division.
Sullivan joined Sovereign in 2003 as Government Banking team leader for
the New England region. Under his leadership he significantly increased the
unit's business, which included the landmark contract to provide core
depository and cash management services to the Commonwealth of
Massachusetts.
Prior to joining Sovereign, Sullivan spent 18 years in public service.
From 2002 to 2003 he served as secretary of the Massachusetts Executive
Office of Administration and Finance. In that position he supervised 22
agencies and functioned as chief operating officer and chief financial
officer of the state, responsible for the development, legislative approval
and implementation of the Governor's annual budget for the Commonwealth of
Massachusetts
Sullivan previously served as secretary of Massachusetts Transportation
Department from 1999 to 2002. From 1996 to 1999 he also served as
commissioner of the Massachusetts Highway Department. In addition, he is
the former mayor of Lawrence, Mass., serving in that role for 7 1/2 years.
An active member of the community, Sullivan is a director of Lawrence
General Hospital and is a member of the Massachusetts State Transportation
Finance Commission.
Sullivan earned his bachelor of science in business management from the
University of Lowell. He resides in Merrimac, Mass., with his wife and two
children.
About Sovereign
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent
company of Sovereign Bank, a financial institution with $82 billion in
assets as of March 31, 2007 with principal markets in the Northeast United
States. Sovereign Bank has nearly 785 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
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Related links:
http://www.sovereignbank.com
CONTACT:
Ellen Molle of Sovereign Bank,
+1-617-757-5573, or cell, +1-617-548-9932, or
emolle@sovereignbank.com
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