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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, which is printed in the business pages of The Philadelphia Inquirer every Sunday, Tuesday, Wednesday, Thursday and Friday. Joe has worked at the Inquirer, mostly, since 1988. He has also written for Bloomberg and Gannett, authored the book Comcasted, majored in economics at Penn, and fathered six children. Reach Joe at 215-854-5194 and JoeD@phillynews.com

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