First Niagara Financial Group has eliminated its chief banking officer position and made two promotions to its leadership team, as the bank’s chief executive officer puts his stamp on upper management.
Daniel E. Cantara III, who has been chief banking officer since December 2012, will leave First Niagara no later than Feb. 28, the bank said. Cantara, a local native, joined the bank in 2001. Prior to that, he spent more than 20 years in public accounting.
As chief banking officer, the bank said Cantara was responsible for “oversight and leadership of all of First Niagara’s customer-facing businesses, including commercial services, consumer finance and retail banking operations.”
“I thank Dan for his contributions and years of service to First Niagara,” said Gary M. Crosby, president and chief executive officer, in a statement. Buffalo-based First Niagara said it has begun a search for an executive vice president of commercial financial services.
The bank did not say why it was eliminating the job of chief banking officer. David Lanzillo, a bank spokesman, said First Niagara had no information to share on the matter beyond what was included in the news release.
Inder Koul and Julie Signorille were promoted and will serve on the company’s executive management team, reporting to Crosby. Continuing to serve on the executive management team are: Gregory Norwood, executive vice president and chief financial officer; Richard Barry, executive vice president and chief risk officer; Andrew Fornarola, executive vice president of the consumer finance group; and Mark Rendulic, executive vice president of retail banking. They also report to Crosby.
Crosby was named First Niagara’s president and chief executive officer last month, after serving in those roles on an interim basis since last March.