(Reuters) - Analysts said Hill's exit makes New Jersey's largest bank a target for a takeover, which Hill had long resisted. Commerce executives would not rule out that possibility but pledged to continue rapidly opening branches to fuel growth. Commerce shares rose as much as 11.4 percent in early trading.
Hill, 61, will retire on July 31 from the Cherry Hill-based company he founded 34 years ago. He stepped down immediately as chairman and chief executive of its banking unit.
Read more at Reuters.com Bonds News
Hill, 61, will retire on July 31 from the Cherry Hill-based company he founded 34 years ago. He stepped down immediately as chairman and chief executive of its banking unit.
Read more at Reuters.com Bonds News
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