BUFFALO, N.Y., Dec. 17, 2017 /PRNewswire/ -- With deep sadness,
M&T Bank Corporation (NYSE:MTB)("M&T") announced that
Chairman and Chief Executive Officer Robert
G. Wilmers died suddenly and unexpectedly at home late last
night. He was 83.
In accordance with its succession plan, M&T's Board of
Directors named lead outside director Robert T. Brady, former Chairman and CEO of
Moog, Inc., as M&T's Non-Executive Chairman, effective
immediately. M&T's three Vice Chairman, Richard S. Gold, René F. Jones and Kevin J. Pearson, maintain
responsibility for the bank's day-to-day operations.
Mr. Wilmers has held both positions since May 1983, when M&T had assets of $2 billion. Today, M&T's assets total more
than $120 billion. Under his
tenure, M&T has completed 24 acquisitions, has grown from 51
branches in one state to 783 branches in eight states plus the
District of Columbia and from
2,000 employees to nearly 17,000. Of the largest 100 banks
operating in 1983, only 23 remain today and, among those, M&T
ranks 1st in stock price growth.
"Bob Wilmers' accomplishments as
Chairman and CEO of M&T Bank are surpassed only by his
commitment to our community, and every day he worked to fulfill his
belief that the bank can only do well if the communities it serves
do well," said Mr. Brady. "He will be missed greatly—by his
beloved family, by the colleagues whom he respected so deeply, by
his incredibly broad network of dear friends, and by all of our
neighbors in M&T's communities. Nonetheless, his legacy
will live on. The management team he built at M&T is
long-tenured and deeply committed to Bob
Wilmers' conservative, consistent, community-focused banking
philosophy, and they will carry on that legacy, continuing to build
M&T as a strong, successful and independent bank."
"He was a remarkable banker, an even more remarkable citizen and
a wonderful friend," said Warren E.
Buffett, Chairman and CEO of Berkshire Hathaway, and
longtime M&T shareholder.
Mr. Wilmers has received many honors and awards for his service
to the banking industry, as well as for his leadership and
contributions to the Buffalo, N.Y.
community, where the M&T Bank is headquartered. These
awards include the Greater Buffalo
Chamber of Commerce 'Western New Yorker of the Year' Award (1991);
State University of New York at Buffalo
School of Management 'Niagara Frontier Executive of the Year' Award
(1992); The Buffalo News 'Citizen of the Year Award' (1987 and
1994); American Banker 'Lifetime Achievement' Award (2005);
American Banker 'Banker of the Year' Award (2011); the 'Chancellor
Charles P. Norton Medal,' the
State University of New York at
Buffalo's highest honor, for civic patriotism (2015); and
'Officier of the Legion of Honor' by the President of France (2017).
He has also received honorary degrees from Canisius College (Doctor of Humane Letters in
1988), Niagara University (Doctor
of Commercial Science in 1991) and the State
University of New York at Buffalo (Doctor of Humane Letters
in 2004).
Mr. Wilmers graduated from Harvard
College and attended the Harvard Graduate School of Business
Administration. After working in banking in New York, he served in New York City government and then went on to
work at Morgan Guaranty Trust Company.
In addition to his role as Chairman and Chief Executive Officer
of M&T Bank, Mr. Wilmers also previously served as chairman of
the Empire State Development Corporation from 2008 to 2009,
Chairman of the New York State
Bankers Association in 2002 and as a director of the Federal
Reserve Bank of New York from 1993
to 1998.
Mr. Wilmers is survived by his wife of 20 years, Elisabeth Roche Wilmers, his son Christopher and
his wife Serena, and his grandsons Dylan and Theodore. He was
predeceased by his son Robert G. Wilmers,
Jr. Mr. Wilmers is also survived by four
step-children: Camille de Wouters
(Dr. Antoine van Couter), Guillaume
de Wouters (Marta Olalde),
Juliette Chevalier (Jerome) and
Charlotte de Coupigny (Alexandre), along with eleven
step-grandchildren.
"On behalf of the entire M&T family, we extend our deepest
condolences to Elisabeth and the Wilmers family," said Mr.
Brady.
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SOURCE M&T Bank Corporation