Frank D'Alto and Timothy Doyle Join Sovereign Bank as Regional Commerc

WYOMISSING, Pa., April 4 /PRNewswire/ -- Frank D'Alto and Timothy Doyle have joined Sovereign Bank as Regional Commercial Executives in the New Jersey market. "Both Frank and Tim have exceptional credentials, share our commitment to our team members, and have a passion for winning," said Eric H. Waser, Sovereign market CEO for New Jersey.

D'Alto will provide leadership in the North Jersey market, partnering with Rik Tvedt, regional retail executive. He will be responsible for coordinating new and existing commercial lending relationships, which includes business banking, middle market and large corporate transactions.

D'Alto has more than 20 years of experience in financial services, including extensive lending experience in loan portfolio management and new business development, as well as a strong credit background. He was most recently senior vice president and loan administration manager for Fleet Capital in New Jersey. Throughout his career he has held various positions of increasing responsibility including team leader with PNC Business Capital and senior credit officer for the eastern region of the National Bank of Canada's U.S. operations.

A resident of Summit, N.J., D'Alto earned a bachelor's degree in accounting from St. John's University, Queens, N.Y. He has been a member of several professional organizations including the Commercial Finance Association, Risk Management Association and the Association for Corporate Growth.

Doyle will provide leadership in the Monmouth and Ocean Counties region, partnering with Nancy Mazza and Sharon Pastras, regional retail executives. He is responsible for management and development of the relationship team, as well as promotion of commercial loan and deposit services for the middle market.

Doyle also has more than 20 years of banking experience including broad market experience in client management and development, deal structuring and credit quality enhancement. Most recently he was senior vice president, credit administration at Fleet Bank, supporting the New Jersey and Pennsylvania middle markets. Throughout his career he has held various positions including head of commercial credit underwriting at Summit Bank and managing director, corporate finance at CIBC World Markets.

A resident of Westfield, N.J., Doyle holds both master's and bachelor's degrees in business administration and commerce from the University of Windsor, Ontario, Canada. He is a member and former treasurer of the Westfield Historical Society, Westfield, N.J., a longtime volunteer with a local Boy Scout troop and a member of the finance committee at St. Helen's Parish, Westfield, N.J.

About Sovereign Bank

Sovereign Bancorp, Inc., ("Sovereign") , is the parent company of Sovereign Bank, a $58 billion financial institution with more than 650 community banking offices, over 1,000 ATMs and approximately 10,000 team members with principal markets in the Northeast United States. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, trust and wealth management and insurance. Sovereign is the 19th largest banking institution in the United States. For more information on Sovereign Bank, visit http://www.sovereignbank.com/ or call 1-877-SOV-BANK.