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Fleet Announces Additional New Jersey/Pennsylvania Senior Management Positions.

Business Editors

PRINCETON, N.J.--(BUSINESS WIRE)--April 9, 2001

Following the successful completion of its merger with Summit Bancorp on March 1, FleetBoston Financial today named additional key members of its senior management team for the combined company's New Jersey and Pennsylvania franchise.

"The knowledge and experience of these individuals and their teams will play a critical role in marketing Fleet's broad array of sophisticated financial products in our newly expanded marketplace," said FleetBoston Financial President and Chief Operating Officer Chad Gifford. "These appointments -- coupled with other senior appointments announced previously -- demonstrate the depth of talent we have marshaled to move the company forward in Fleet's New Jersey and Pennsylvania markets."

"This new round of senior management appointments is another important building block in our strategic plan," said T. Joseph Semrod, Chairman of Fleet New Jersey. "These key team members will help us design and deliver attractive products and services our customers expect and help us advance our commitment to economic development that benefits our communities."

The following individuals were named to senior management positions in Fleet's New Jersey/Pennsylvania franchise:

Gerald L. Facciani is named Regional Vice President, Mortgage, for metropolitan New York, New Jersey, Pennsylvania, Florida and South Carolina. Gerald previously was president of Summit Mortgage, responsible for all aspects of the mortgage operation. He also has been president of Ramapo Bank and Lancaster Financial Ltd.

James Hedden is named Executive Vice President and Division Manager for Commercial Real Estate Finance in Northern New Jersey. Jim was previously senior vice president in charge of commercial real estate lending for the high-value client portfolio encompassing northern New Jersey, Long Island, and Westchester. Before joining Fleet in 1994, he was a vice president and team leader in real estate for Chase Manhattan Bank. He is a member of the National Association of Industrial and Office Properties, the International Council of Shopping Centers, and the New Jersey Mortgage Bankers Association.

Joel S. Lawson III continues to lead Howard Lawson & Co., the Philadelphia-based investment advisory firm acquired by Summit Bancorp on Sept. 11, 2000. Howard Lawson has earned a national reputation specializing in mergers and acquisitions, fairness opinions, private debt and equity financings, complex securities valuations and expert witness services. Its clients include a wide range of private and public U.S. and international corporations, as well as private equity firms, trustees, and other fiduciaries, courts and high-net-worth individuals. Mr. Lawson has led the firm's professional teams on complex transactions and guided U.S. and European companies on mergers, acquisitions and divestitures. He also has been senior financial advisor on several high-profile corporate recapitalizations and restructurings.

Steven L. Lubetkin will continue as head of corporate communications for Fleet's New Jersey/Pennsylvania retail and corporate banking lines of business. He is responsible for media relations, employee communications, executive speechwriting and communications support for the New Jersey/Pennsylvania senior management team. Steve also will work on media relations matters concerning the company's credit card and insurance businesses. Steve joined Summit Bank in June 2000. He previously held communications management positions with Standard & Poor's, Unisys Corporation, and Consolidated Rail Corporation. Steve is Accredited in Public Relations by the Public Relations Society of America (PRSA), and is a member of the PRSA's College of Fellows. He serves on the public relations industry's Universal Accreditation Board, which administers the accreditation examination. Steve is also a member of the Board of Trustees of Temple Emanuel, Cherry Hill, and the Shalom House Steering Committee, which is coordinating the South Jersey Jewish community's participation in the Metro Camden Habitat for Humanity organization.

Michael J. Maiorino is President of Fleet Business Finance in New Jersey. Previously, Mike was a Summit Bank Executive Vice President and President of Summit Commercial Corp., where he was responsible for the bank's secured lending products and services, including asset-based lending, equipment finance, and equipment leasing. He also supervised the International Trade Finance Group, which provides financing for both imports and exports. Summit Commercial Corp. has offices in major cities in the northeast including New York City, Philadelphia, Stamford, Cranford, NJ, and the Baltimore/Washington area. Summit Commercial is headquartered in New York. Before joining Summit in 1985, Mike worked for Marine Midland Bank in Buffalo, New York, and Citizens Bank in Providence, RI.

Abby O'Neill will be responsible for the administration of the company's corporate giving, sponsorship and Fleet Works volunteer programs in New Jersey and Pennsylvania. Through Abby's guidance, the Community Foundation of New Jersey named Fleet Corporate Philanthropist of the Year in 1999. Abby has been with Fleet and its predecessor bank, NatWest, since 1995. She serves on the boards of the Morris Museum and the Community Food Bank of New Jersey and is a member of the New Jersey Commission on National and Community Service. She is a fellow in the current class of Leadership New Jersey.

Thomas J. Sharkey Jr. continues as president and chief executive officer of Summit Insurance Advisors. The insurance brokerage group provides risk-management expertise, commercial property/casualty insurance and employee benefits services to a wide range of corporate, nonprofit, and government clients. It also serves individuals for their personal insurance needs in the areas of life insurance planning, homeowners, automobile, watercraft and personal umbrella coverage. The unit was formed in May 2000 through the combination of Corporate Dynamics, Madison Consulting Group, Meeker Sharkey Financial Group, Inc., Patgo, and Ross & Co., insurance and benefits consulting firms acquired by Summit. SIA is the 25th-largest full-service insurance brokerage in the United States, and the largest in New Jersey. Tom manages a staff of more than 300 professionals in New Jersey, Pennsylvania and Connecticut. He joined Meeker Sharkey in 1986 as a producer and was named president and CEO in 1999. Prior to joining Meeker Sharkey, Tom worked in the leveraged buyout group at Manufacturers Hanover Trust Co. He is a trustee of the Union County Economic Corp. and the Union County Alliance and serves on a number of insurance company advisory boards.

FleetBoston Financial is the seventh-largest financial holding company in the United States. A diversified financial services company with assets exceeding $200 billion, Fleet offers a comprehensive array of innovative financial solutions to 20 million customers in more than 20 countries and territories. Among the company's key lines of business are: retail banking, with nearly 1,700 branches and more than 3,800 ATMs in the Northeast; commercial banking, including capital markets/investment banking and commercial finance; investment services, including discount brokerage; and full-service banking through more than 250 offices in Latin America. FleetBoston Financial is headquartered in Boston and listed on the New York Stock Exchange (NYSE: FBF) and the Boston Stock Exchange (BSE: FBF).
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Publication:Business Wire
Date:Apr 9, 2001
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