First Niagara Financial Group Incs top executive will shed one of two professional titles
First Niagara Financial Group Incs top executive will shed one of two professional titles as part of the banking companys formation of a new executive committees of top officers. Buffalo-based First Niagara (NASDAQ: FNFG) announced Thursday that John Koelmel, who was named bank president and chief executive officer in December 2006, will now be CEO only.
A national search is underway to hire a bank president to lead retail and commercial banking and marketing. The bank has retained a recruiting firm to help with the search process and hopes to finalize its search in the next three months, bank spokesperson Leslie Garrity said. Koelmel, meanwhile, will focus on vision, strategy, performance and relationship building for the bank, she said. He will continue handling the duties of president until the position is filled. The new governing body will support the bank’s ambitious growth strategy, which includes two acquisitions in Pennsylvania in less than one year. [Read the full article]