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Article: Banker's low-profile days fading - Sovereign Bank's debut.
- Article from:
- The Boston Herald
- Article date:
- November 21, 1999
- Author:
CopyrightCOPYRIGHT 1999 Boston Herald. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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He's worked for New England's biggest banks. He runs the region's largest auto financing operation. And, in about five months, he'll take over the region's third-largest bank franchise.
Yet Joseph Campanelli is largely unknown to his fellow Boston bankers, much in the way that his employer, Sovereign Bancorp Inc. of Wyomissing, Pa., is a mystery to customers in New England.
As Campanelli and Sovereign prepare to take over 278 branches being sold by Fleet and BankBoston, Sovereign must prove it can compete, or risk becoming a takeover target, industry observers say.
"Certainly the management infrastructure at Sovereign Bank has not been set up ...