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M&T creates executive team to steer Hudson City acquisition


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    M&T Bank, of New York, announced it named an executive team to complete the bank's acquisition of Hudson City Savings Bank, of Paramus.

    The team of Gino Martocci, Peter D'Arcy and Paula Mandell has been charged with integrating Hudson City Savings Bank's 135 branches into M&T, and extending its commercial banking operations into Hudson City's branch network.

    The merger, subject to regulatory and shareholder approval, is expected to close in the second quarter, according to a news release from M&T. It will result in nearly 400 layoffs of Hudson City employees, the bank previously announced.



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