PRINCETON, N.J. - UJB Financial Corp. said it has opened an office of its asset-based lending affiliate, UJB Commercial Corp., in Stamford, Conn.
The office will be managed by senior vice president Joseph Iannuccilli. Before joining UJB, he was president of Sound Shore Financial Corp., Greenwich, a consulting firm specializing in the reorganization of midsize companies.
He also served as senior credit policy officer for People's Bank, Bridgeport, where he created an asset-based lending division and administered credit decisions and policies for small and middle-market corporate borrowers.
The Stamford office is UJB's first entry into the Connecticut market. The office will seek business throughout the state as well as in adjacent Westchester County, N.Y., the bank said.
UJB, based in Princeton, has $15.4 billion in assets. It has some $700 million in loans outstanding through subsidiaries that include UJB Commercial Corp., Gibraltar Corporation of America in New York, United Jersey Bank, and First Valley Bank in Pennsylvania.