Commerce Bancorp, Cherry Hill, N.J. has hired CoreStates' senior credit officer to lead its own middle-market lending team and the head of CoreStates' branches in the Philadelphia suburbs to lead retail and commercial lending in southeastern Pennsylvania.

First Union Corp. bought CoreStates Financial Corp. on April 28.

Glenn K. Holck, the new middle-market chief, and Michael Mathey were named senior vice presidents. Mr. Holck held that rank at CoreStates; Mr. Mathey was a market president, responsible for 100 branches in Bucks, Montgomery, and Chester counties.

In addition, two of Mr. Holck's colleagues were hired to back him up. Christopher C. Giamo, will be vice president of middle-market lending for New Jersey and Kurt J. Fuoti for Pennsylvania. Mr. Giamo had managed a three-member lending team at CoreStates, as well as a middle-market portfolio; Mr. Fuoti had been a vice president and middle-market relationship manager.

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