M&T Bank in Buffalo, N.Y., has expanded the job responsibilities of René Jones, its chief financial officer and vice chairman, while at the same time naming a new CFO.
Jones will be given oversight of two business lines at the $124 million-asset company, mortgage and consumer lending, while retaining oversight of treasury and Wilmington Trust, according to a Wednesday news release. The new roles will take effect May 2.
Jones will drop his CFO title and retain the title of vice chairman. He will not be given a new title, according to an M&T spokesman.
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M&T is squeezing savings out of its newly purchased Hudson City Bancorp after fighting long and hard for regulatory approval. But it's also taking steps to keep Hudson City's customers from leaving, like offering higher rates on CDs in the New Jersey area.
April 18 -
Costs associated with M&T Bank's successful but prolonged effort to buy Hudson City Bancorp pushed the Buffalo, N.Y., company's fourth-quarter profit lower.
January 19 -
M&T Bank's president and chief operating officer, Mark Czarnecki, has been diagnosed with pancreatic cancer and plans to remain in his role at the bank while he gets treatment, the Buffalo News reported.
August 19
Jones, 51, joined M&T in 1992 and was promoted to CFO in 2005. He was named vice chairman in January 2014.
Jones has led M&T's conference call discussions with analysts over the past several quarters. Many of those discussions revolved around issues tied to M&T's long-delayed acquisition of Hudson City Bancorp, and M&T's efforts to improve its anti-money-laundering compliance functions to gain regulatory approval for the deal.
“René has helped guide M&T successfully through one of the most challenging 10-year periods in our company's history,” Robert Wilmers, M&T's chairman and chief executive, said in the release.
Wilmers, 81, has been chairman and CEO for more than 30 years. M&T's president and chief operating officer, Mark Czarnecki, in August began treatment for pancreatic cancer. Czarnecki has remained in his roles at M&T.
Also on Wednesday, M&T promoted Darren King to succeed Jones as CFO. King, 47, is currently head of the bank's retail and business banking division. He began working for M&T in 2000.
