Commerce to Sell? Why Some Doubt It Will Occur

Rieker, Matthias
July 2007
American Banker;7/3/2007, Vol. 172 Issue 127, p20
Trade Publication
The article discusses whether holding company Commerce Bancorp Inc. will be sold in a takeover due to new management and slow growth. The company's board of directors agreed to comply with directives from regulators to sever business relationships with firms employing relatives of Commerce chief executive officer (CEO) Vernon W. Hill. The board has asked Hill to resign. Robert D. Falese Jr., Commerce's head of commercial banking, has been appointed president and make become CEO as well.


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