Commerce Bank Announces Two Key Promotions.CHERRY HILL Cherry Hill, township (1990 pop. 69,319), Camden co., W central N.J.; name was changed from Delaware township to Cherry Hill in 1961. Largely residential, Cherry Hill has been marked by great development and housing growth, especially since the 1970s. , N.J. -- Dennis M. DiFlorio Named President Of Retail Banking And Operations; Robert D. Falese Named President Of Commercial And Investment Banking Commerce Bancorp This article is about the bank headquartered in Cherry Hill, New Jersey. For other uses, see Commerce Bank. Commerce Bancorp (NYSE: CBH), doing business as Commerce Bank , Inc. (NYSE NYSE See: New York Stock Exchange :CBH CBH cutaneous basophil hypersensitivity. ) announced today that Dennis M. DiFlorio has been promoted to President of Retail Banking and Operations and Robert D. Falese has been promoted to President of Commercial and Investment Banking. "The promotions of Dennis and Bob recognize the outstanding contributions they have made to Commerce Bank's success and reinforce the key roles they will play in the bank's future," said Commerce Founder and Chairman Vernon W. Hill. "Dennis and Bob will share the senior management responsibilities at Commerce with me." DiFlorio joined Commerce in 1988 as the Operations Director and was named Senior Retail Officer in 1993. Since then his responsibilities have grown steadily to encompass the overall management of Commerce's rapidly expanding network of more than 300 stores. In addition to store operations, DiFlorio oversees such crucial areas as information technology, training, security and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. for Commerce's retail operations. "Dennis' passion for and commitment to the unique Commerce model and his ability to lead and shape our superior support team are keys to our future success," Hill added. Falese joined Commerce in 1992 as the Executive Vice President / Chief Lending Officer. During the past 12 years he has played a vital role in recruiting and training Commerce's market managers, regional managers, commercial lenders Whilst nearly all lenders offer loans on a commercial basis the term commercial lender has differed meanings around the world.
abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government ) lending, and a variety of growing specialized commercial financing services that focus on areas such as commercial real estate, healthcare, leasing and venture capital. "Bob is recognized as one of the country's leading commercial bankers, and he has done an outstanding job of creating a top-notch commercial banking team and building Commerce's commercial banking business," Hill said. Falese began his banking career in 1966 at First Pennsylvania Bank. In 1980 he moved to Fidelity Bank / First Fidelity in Philadelphia where he held various senior lending positions before joining Commerce. About Commerce Bank Commerce Bank, "America's Most Convenient Bank(R)," is a leading retailer of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. with more than 300 convenient stores in New Jersey, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Pennsylvania and Delaware. In 2004, the bank plans to open 50 new locations and create 1,800 new career opportunities throughout its markets. Commerce Bancorp (NYSE: CBH) has more than $29 billion in assets and, in third quarter 2004, achieved a deposit increase of 34% and earnings per share growth of 25%. For more information about Commerce, please visit the company's interactive financial resource center at commerceonline.com. |
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