Valley National Bank has completed an organizational review that in part creates a newly formed office of the chairman and expands the responsibilities of Valley's executive vice presidents.
Members of the committee include Peter Crocitto, Al Engel, Alan Eskow, and Robert Meyer. With the creation of this office, Valley is centralizing the leadership of critical elements of the company’s infrastructure to build upon its commitment to a top level service culture.
In connection with this strategic move, Mr Crocitto, executive vice president since January 1996, has been designated COO. In addition to his current responsibilities of technology, operations, retail banking and human resources, he will assume the additional responsibilities of the marketing department.
Mr Eskow, CFO, will give oversight to an expanded treasury function, risk management, as well as Valley’s wealth management division. Mr Meyer will continue as head of the commercial lending group and Mr Engel will remain head of the retail lending group.
Gerald Lipkin, chairman, president and CEO, said that these changes will enable Valley to structure itself for continued growth and long term succession.
Mr Lipkin added: The executive vice president’s team approach will continue to enhance the effectiveness of Valley’s performance.