Dow Jones

CHERRY HILL, N.J. — Commerce Bancorp has hired three PNC Bank executives to help it start a wealth management group.

In a press release Thursday, Commerce said the group would be called Commerce wealth advisors and would operate as a division of Commerce Capital Markets.

William P. Carrozza was named executive vice president and managing executive of the group. He was a senior vice president and director of southern New Jersey PNC advisors.

The New Jersey company named Gary L. Maddox senior vice president and chief investment officer. He was a vice president and the senior portfolio manager at PNC advisors in Moorestown, N.J.

Kenneth Silverstein was named senior vice president and director of sales and marketing for Commerce wealth advisors. He has nearly 30 years of experience in financial services.

PNC Bank is a member of PNC Financial Services Group Inc.

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