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Thursday, July 9, 2009

Vernon Hill's Metro Bank nabs another Commerce veteran

Metro Bank, the combination of Harrisburg's Commerce Bank of Pennsylvania with Philadelphia's Republic First Bank under the financial sponsorship and guidance of former Commerce Bancorp chief Vernon Hill, has hired Hill's old lieutenant Peter Musumeci as Executive VP and Chief Lending Officer.

Musumeci replaces Commerce PA veteran Rory Retrievi, who's left the company, spokesman Jason Kirsch tells me. Musumeci worked for Hill from Commerce Bancorp's 1974 founding til Hill left three years ago, under pressure other directors and federal regulators. Musumeci stayed on with Commerce's new owner, TD Bank, until last year. Hill's putting his band back together.
Posted by Joseph N. DiStefano @ 11:45 AM  Permalink | Post a comment
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About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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