A boardroom coup following the death of a key ally on the divided Republic First Bancorp Inc. board has forced veteran Moorestown banker Vernon Hill from his post as the chairman of the board.
In a statement to bank workers Thursday, Hill eulogized Flocco as “loyal” and a supporter of Hill’s efforts to grow the bank in metro Philadelphia and New York.
The dissidents — who gained a one-vote majority with Flocco’s passing — are Andrew B. Cohen, a longtime investment manager for Wall Street billionaire and New York Mets owner Steven A. Cohen; lawyer Lisa Jacobs, partner at Stradley Ronon Stevens & Young in Philadelphia; Madonna; and Harvey Wildstein, who runs LifeLine Funding LLC.They are siding with longtime South Jersey insurance broker, hospital executive, and Democratic Party kingmaker George Norcross.
Norcross is supporting efforts by activist investors seeking to oust Hill in favor of their own candidates in the bank’s as-yet unscheduled 2022 board elections. Hill’s remaining allies include accountant Barry Spevak and Brian Tierney, founder of Brian Communications, whose clients include First Republic.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
1 dead, 1 in custody after Cedar Hill shootingOne person is dead and another in custody after a shooting in Cedal Hill earlier this morning.
Read more »
Nationwide push for unions expands to Capitol Hill after House votes to allow staffers to unionizeHouse staffers will be able to join a union if they choose to, but it isn't a requirement under the resolution.
Read more »
Capitol Hill and White House seize on baby formula shortageThe run on baby formula follows the closure of a single Abbott facility in Michigan where much of the country's formula is made. Abbott is the nation's largest manufacturer of formula, and at this point, 40% of the nation's formula is out of stock.
Read more »
Morgan Hill: Crews battle fire involving vehicles, structureThe blaze was reported Friday night near Garden Way and Wright Avenue.
Read more »
Silent Hill Leak Seemingly Confirmed by DMCA StrikesSome new artwork and screenshots rumored to be from an in-development Silent Hill game was shared [...]
Read more »
Capitol Hill and White House seize on baby formula shortageAfter the nationwide baby formula shortage began dominating news headlines, White House press secretary Jen Psaki said Friday the administration has been working on the formula issue for 'months.'
Read more »