NEW YORK, Sept. 9 /PRNewswire-FirstCall/ -- Sovereign Bank was named
class valedictorian for receiving top ranking for the second consecutive
year in an annual survey of retail banks in Manhattan by the investment
banking firm Sandler O'Neill + Partners.
The survey report, "Grading the Manhattan Banks," issued today by Mark
Fitzgibbon, Director of Research at Sandler O'Neill, ranked Sovereign
highest among 12 retail banks doing business in Manhattan.
"Each year we pretend to be prospective customers and visit with people
down in the trenches to try and determine what really makes these banks
tick. We have found this to be a good way of identifying disconnects
between what is said in the executive suite and what is actually happening
on the front line," Fitzgibbon said in the Industry Notes of the report,
which is conducted annually in August. He noted about Sovereign that,
"Whoever trains their branch people should get a raise. All of their CSRs
were polite, professional, energetic, knowledgeable and eager to get our
business."
Vincent Ricciardi, Sovereign Bank Executive Vice President and Senior
Market Executive for Metro New York-New Jersey, said, "We are once again
very pleased to be recognized as a leader in providing customer service in
our community banking offices. Our continued focus on improving the
customer experience is a key component of what we ask of our team members
everyday."
Sovereign provides banking services to individuals and businesses in
the Metro New York area through nearly 100 branches and more than 350 ATMs,
including 15 banking offices in Manhattan.
About Sovereign
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent
company of Sovereign Bank, a financial institution with principal markets
in the Northeastern United States. Sovereign Bank has 750 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. 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:
Mike Armstrong, +1-347-563-9251,
Marmstro@sovereignbank.com, or Ellen Molle, +1-617-757-5573,
EMolle@Sovereignbank.com, both of Sovereign Bank
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