Richard Gold, who joined M&T Bank in 1989 and held numerous top roles at the Buffalo, New York company, plans to retire as president and chief operating officer early next year.
Gold will remain on the board of directors after his management role ends following the first quarter of 2023, according to an M&T press release. Planning is underway to appoint his successor, a bank spokesperson said.
Gold joined M&T after short stints at Bankers Trust Company and Citibank. During his three decade-plus tenure, M&T expanded into a regional bank with approximately $200 billion of assets and a footprint in 12 states along the Atlantic coast and Washington, D.C.
Over the years, Gold led several business groups at M&T, including product and segment management, as well as alternative and retail banking.
In 2014, he took the role of chief risk officer while the company’s deal to acquire Hudson City Bancorp was on hold as regulators demanded upgrades to M&T’s systems. The acquisition closed the following year.
Gold was named president and chief operating officer in 2017, shortly after the
During an
"From Jan. 1, 2008, on, he and I met once a week, minimum, every week until the day he died," Gold told the newspaper. "That was an incredible, incredible privilege.”
Gold’s “life’s work” has been to instill a culture at M&T that “allows us to operate with a sense of purpose and feel as though we are part of something larger,” René Jones, M&T’s chairman and CEO, said Thursday in a statement.
“That focus on culture, coupled with a keen ability to identify and cultivate leaders, has ensured that we have an outstanding talent base to carry our purpose forward and continue to make a difference in people's lives,” Jones said.
In April, M&T closed on its $7.6 billion acquisition of People’s United Financial. During the first quarter, the bank reported net income of $362 million, a 19% decrease from the previous year.
