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M&T vice chairman Pinto steps down

Rochester Business Journal
January 7, 2014

M&T Bank Corp. vice chairman Michael Pinto has resigned from the bank’s board of directors because of a serious medical condition, officials said Tuesday. He will serve as vice chairman of the company's primary banking subsidiary part-time.

The nature of the condition was not disclosed.

“Mike needs to devote time and energy to his treatment, and we support him and his family completely,” M&T chairman and CEO Robert Wilmers said in a statement.

Rene Jones, executive vice president and chief financial officer, and Kevin Pearson, executive vice president, have been named vice chairmen and will assume many of Pinto’s responsibilities, officials said.

President Mark Czarnecki has been named chief operating officer, effective immediately, and will oversee day-to-day management, officials said.

Jones assumes responsibility for Wilmington Trust Corp., M&T’s wealth and institutional trust management subsidiary, and for the bank’s treasury division. Pearson will oversee M&T’s commercial banking.

Pinto has been with the Buffalo-based bank since 1985.
 
“Mike has been a leader in our disciplined approach to mergers and acquisitions, our efficient operating model and our focus on creating and preserving shareholder value,” Wilmers said.

“A company’s culture is bigger than any one person, but Mike stands as tall as any,” he added.

M&T is the market leader in Rochester with local deposits of $3.8 billion, data from the Federal Deposit Insurance Corp. shows.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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