UJB Financial Corp. named Sabry J. Mackoul president and chief executive officer of its United Jersey Bank subsidiary.

Mr. Mackoul, formerly an executive vice president, replaces Fred M. Moses, 58, who resigned this week for personal reasons,the bank said Thursday.

The appointment, effective in December, comes on the heels of a major reorganization at New Jersey's second largest banking company. The restructuring is designed to cut costs and sharpen the company's focus on small-business lending and mortgage banking.

In September, Princeton, N.J.-based UJB announced that it will eliminate 7% of its workforce and consolidate six New Jersey and Pennsylvania bank subsidiaries into two.

Mr. Mackoul's assignment will last until United Jersey Bank is combined with UJB's two other New Jersey subsidiaries. At that point, Joseph T. Semrod, chairman and chief executive officer of the holding company, will take over as chairman and president of the merged entity.

In the reorganization, Mr. Mackoul, executive vice president, was handed responsibility for retail banking, including small business lending. He will continue in that post during his tenure at United Jersey Bank.

Mr. Moses was put in charge of credit risk management.

Analysts speculated Mr. Moses left the company because he was not given a post heading up a major line of business. Mr. Moses could not be reached for comment.

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