BUFFALO, N.Y., June 16, 2010 (GLOBE NEWSWIRE) -- First Niagara Financial Group (Nasdaq:FNFG) has appointed Oliver Sommer executive vice president, corporate development.
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Sommer will work with President and Chief Executive Officer John R. Koelmel on First Niagara's merger and acquisition strategy, as well as lead acquired-bank integration, internal project management and other strategic corporate initiatives. He will report directly to Koelmel and will serve on the Company's Executive Committee.
"Ollie has been a valuable partner with our team as an external adviser for the last five years, supporting the design, development and execution of the relationship-based strategy that has positioned us so well," said Koelmel. "First Niagara will benefit tremendously by having Ollie as a member of our executive leadership team, now working from the inside to further shape and drive the successful evolution of our business to even better position us for success in the years ahead."
Sommer previously served as a consultant to First Niagara as President of Aston Associates. In that capacity, he led Aston's advisory team that played an integral role in executing and integrating the First Niagara's expansion into Pennsylvania through two acquisitions over the last year, which doubled the bank's size to nearly $20 billion in assets with nearly $14 billion in deposits and 255 branches in two states.
Sommer has been with Aston, headquartered in Stamford, Conn., since 1996. Prior to joining Aston, Sommer held various positions at Philadelphia's CoreStates Bank in Corporate and International Banking, Personal Financial Services, and Investment Management divisions. He has an MBA from the Fox School of Business at Temple University and a bachelor's degree from the Carroll School of Management at Boston College.
About First Niagara Financial Group: As a result of the Harleysville merger on April 9, 2010, First Niagara Financial Group, Inc., through its wholly owned subsidiary, First Niagara Bank, N.A., has $20 billion in assets, 255 branches and $14 billion in deposits. First Niagara Bank is a community-oriented bank providing financial services to individuals, families and businesses across Upstate New York and Pennsylvania. For more information, visit www.fnfg.com.
