BUFFALO — M&T Bank Corp. (NYSE: MTB) today announced that Michael Pinto, vice chairman of the bank holding company’s board of directors, has resigned due to a “serious medical condition.”
Pinto will continue serving as vice chairman of M&T Bank, the company’s primary banking subsidiary, on a part-time basis in an advisory role, M&T said in a news release.
“Mike needs to devote time and energy to his treatment, and we support him and his family completely,” Robert Wilmers, chairman and CEO of M&T Bank Corp., said in the release.
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Pinto joined M&T Bank in 1985, which named him executive vice president and CFO in 1996. Later, M&T appointed Pinto as vice chairman of M&T Bank and elected him to the boards of both the bank and the holding company in 2003.
The company later named him chairman and CEO of M&T Bank’s Mid-Atlantic division in 2005. The parent company designated Pinto vice chairman of the board in 2007.
Following Pinto’s resignation, M&T announced that company president Mark Czarnecki has also been named COO, effective immediately.
With his added responsibilities, Czarnecki oversees the banking company’s day-to-day management, including coordination of the bank’s credit, audit, and risk divisions.
Czarnecki will continue to report to Wilmers, M&T said.
In addition, M&T has also named CFO Rene Jones and Kevin Pearson, M&T’s executive vice president, as vice chairmen of M&T Bank. With their expanded roles, Jones and Pearson will also report to Wilmers, the banking company said.
In addition to his current duties, Jones now assumes responsibility for Wilmington Trust, M&T Bank’s wealth and institutional-trust management subsidiary, and for M&T Bank’s treasury division.
Jones joined M&T in 1992, and succeeded Pinto as CFO in 2005, M&T said.
In his new role, Pearson will oversee the bank’s entire commercial banking line of business.
He joined M&T in 1989, and has been leading the banking company’s New York metropolitan markets since 2002.
Pearson is a member of M&T’s management committee and chairman of the bank’s senior loan committee.
Czarnecki, Jones, and Pearsall bring a combined total of 83 years of experience at M&T to their roles, and each has contributed “significantly” to the company, Wilmers said.
“Working side-by-side with the rest of our experienced management team, they will provide sound leadership and guidance as we navigate, not just through Mike’s treatment, but through a challenging and dynamic banking environment as well,” he added.
The changes are “necessary” to position the company for future growth and success, and to “preserve our deep commitment to our customers, employees and shareholders, and to our community-banking values,” Wilmers said.
Contact Reinhardt at ereinhardt@cnybj.com
