NEW YORK, July 18 /PRNewswire-FirstCall/ -- Sovereign Bank today
announced that Jeffrey Carstens, who has headed Sovereign's Corporate
Banking Team on Long Island since it was established in 2005, has been
promoted to Commercial Banking Market President. In his new post he will
have responsibility for corporate and middle market banking in Nassau,
Suffolk and Queens Counties.
Thomas Iadanza, Commercial Banking President of the Metro NY-NJ
Division of Sovereign, said, "Jeff is a seasoned banker with 24 years of
experience in providing financial solutions for large businesses and middle
market companies. He and his talented team of executives and relationship
managers will help corporate and middle market companies access the
outstanding banking capabilities of Sovereign."
Jeffrey Carstens said, "I am excited about this new challenge as the
Sovereign team organizes to show corporate and middle market companies on
Long Island and in Queens how our experienced team of bankers coupled with
Sovereign's broad array of financial products can help their growing
businesses meet diverse and complex financial needs."
Carstens has more than 24 years of experience in the financial services
industry, including extensive commercial lending experience in the areas of
new business development, relationship and loan portfolio management.
Before joining Sovereign, he was a senior vice president with Bank of
America's Metro New York division, responsible for a sizable portfolio of
middle market and mid-corporate relationships.
In community and professional activities, Carstens is a member of the
board of directors and treasurer of the Ronald McDonald House of Long
Island. He is on the boards of Ascent: A School for Individuals with Autism
in Deer Park, NY; Advancement for Commerce, Industry & Technology; and the
Risk Management Association's Long Island Chapter. He is also on volunteer
service committees for a variety of organizations including WLIW21, Putting
Families First, Open Your Heart for Children, Outreach Project, and others.
A resident of Port Washington, NY, Carstens earned a Bachelor's degree
in economics from Stony Brook University, Stony Brook, NY and a MBA from
Adelphi University in Garden City, NY.
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:
Michael A. Armstrong, +1-347-563-9251,
Office, +1-917-279-8437, Cell, marmstro@sovereignbank.com, or Ed
Shultz, +1-610-378-6162, Office, +1-610-207-8753, Cell,
eshultz1@sovereignbank.com, both of Sovereign Bank
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