BUFFALO, N.Y. — M&T Bank Corp. (M&T) (NYSE: MTB) has appointed René Jones chairman and CEO of the parent company and its principal banking subsidiary, M&T Bank.
Jones was also elected to the board of directors of both M&T and M&T Bank, the Buffalo–based banking company said in a news release issued Wednesday.
Jones succeeds M&T’s longtime chairman and CEO Robert Wilmers, who died “suddenly and unexpectedly” on Dec. 16.
Besides the CEO appointment, M&T has also named Richard Gold president and COO of M&T and M&T Bank. Gold was also elected to the board of both M&T and M&T Bank.
“Over the past 34 years, Bob Wilmers built M&T into one of the most successful banks in the country,” Robert Brady, M&T’s non-executive chairman, said in the company’s release. “Mr. Wilmers did not do it alone, however. Thousands of experienced colleagues have worked side-by-side with Bob to develop and deliver M&T’s successful community-focused approach, including a management committee comprised of members with an average tenure of 24 years at M&T.”
Brady referred to Jones and Gold as Wilmers’ “long-tenured colleagues.”
“Together, René, Rich and the rest of the management committee are well prepared to perpetuate M&T’s long record of strength and success, and to carry on Bob’s tradition of conservative, consistent community banking,” said Brady.
M&T had also announced on Sunday that Brady, the lead outside director and former chairman and CEO of Moog, Inc. (NYSE: MOAG.A), was named M&T’s non-executive chairman. Moog is headquartered in Elma, just south of Buffalo.
Brady on Wednesday resumed his role as vice chairman and lead outside director of M&T’s board, the company said.
About Jones, Gold
Jones, 53, joined M&T in 1992, and the company appointed him to the management committee in 2005. He served as M&T’s CFO from 2005 to 2016.
“Bob Wilmers was an inspiration to us all, and his legacy will live on in everything we do to support our colleagues, serve our customers and strengthen our communities,” Jones said in the release. “Our shareholders, employees, customers and communities can expect to see continuity in M&T’s overall vision and direction, and a continued commitment to the values that Bob Wilmers embodied.”
Gold, 57, began his career with M&T Bank in 1989 and has held “numerous” managerial positions in retail banking, consumer lending, mortgage and business banking.
M&T in 2007 appointed Gold to the management committee. In 2014, the company named him vice chairman and he “took on the role” of chief risk officer.
Contact Reinhardt at ereinhardt@cnybj.com