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First Niagara Financial (FNFG) in Buffalo, N.Y., said its chief banking officer is leaving.
January 10 -
John Koelmel will receive a severance package from First Niagara Financial Group (FNFG) that is 38% smaller than previous reports had indicated.
August 12
First Niagara Financial (FNFG) in Buffalo is shelling out another six-figure sum for severance tied to an ousted executive.
The $38 billion-asset company
Cantara, who
First Niagara and Cantara also agreed that they would not pursue any legal actions tied to Cantaras ouster. Cantara also agreed to a wide-ranging noncompete agreement that will expire 12 months after his departure from First Niagara.
First Niagara promoted Cantara to chief banking officer in late 2012, when then-CEO John Koelmel was pursuing an aggressive acquisition strategy. Koelmel was fired in March 2013.
Koelmel, meanwhile,