M&T Bank Corporation
Pending final regulatory approval, M&T will open a commercial office in the Greater Toronto Area by the end of the year. The operation will be M&T's first commercial office outside the United States.
"Canada is a good location to expand our commercial business, because we've been headquartered on the border for more than 150 years and we understand the bi-national economy. This office will allow us to provide banking services to the Canadian offices of our U.S. customers. We'll also seek the business of Canadian companies that are expanding into the U.S.," said M&T Bank President Mark J. Czarnecki.
Canada is the largest U.S. trading partner and roughly 30 percent of all Canada-U.S. trade crosses the border in the Buffalo-Niagara region.
M&T has hired John R. MacLeod as the principal officer for its Canadian commercial office. MacLeod has 30 years of experience in the Canadian commercial banking industry.
"M&T will have the ability to provide full-service banking to its commercial clients. The bank's position, with offices on both sides of the border, allows us to provide seamless delivery of financial services to customers in Canada and the U.S.," MacLeod said.
M&T Bank, founded in 1856, is one of the top 20 largest U.S. commercial bank holding companies, with approximately $66 billion in assets. M&T Bank operates more than 680 branches and 1600 ATMs in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware, New Jersey and the District of Columbia.
For Further Information:
Web site: http://www.mandtbank.com/