Commerce Bank in Cherry Hill, N.J., has hired a First Union Corp. executive and put him in charge of middle-market business in Pennsylvania and Delaware.
Peter L. Davis, a 25-year banking veteran, was named a senior vice president for middle-market lending.
Mr. Davis was the managing director of First Union's private finance department. That had also been his job at CoreStates Financial Corp., which Charlotte, N.C.-based First Union bought in 1998.
Commerce Bank has $6 billion of assets and 110 branches in Pennsylvania, New Jersey, and Delaware.