BNET Industries
Last Fiscal Year Sales:$5.2B
- Public
- US
Dow Jones Description
Sovereign Bancorp, Inc., (NYSE: SOV), is the parent company of Sovereign Bank, a financial institution with $85 billion in assets as of December 31, 2007 with principal markets in the Northeast United States. Sovereign Bank has 750 community banking offices, over 2,300 ATMs and approximately 12,000 team members. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance. Sovereign is the 19th largest banking institution in the United States.
Number of Employees 10,235
Contact Information
1500 Market St
Philadelphia, Pennsylvania 19103-3231
(610) 320-8400
Peer Companies
NAICS Code Savings Institutions: 522120
Recent Events
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Ex-Bank CEOs Become Buyout Pitchmen
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Business news in brief
News & Analysis
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shareholder and sovereign bancorp inc. - All News and Analysis
LIGHTNING ON THE Horizon
- 2006-07-01
RECORD PROFITABILITY HAS BOUGHT THE INDUSTRY SOMETIME, BUT BANK BOARDS WILL INCREASINGLY FIND THEMSELVES UNDER PRESSURE FROM RESTIVE SHAREHOLDERS. Lawrence Seidman has been investing in small banks and thrifts for 22 years, often using the leverage afforded by those shares to pressure boards and managements to change strategic...
Relational Challenges Pennsylvania Legislation: Constitutional Mandates Sidestepped for Sovereign
- 2006-03-02
SAN DIEGO -- Relational Investors LLC, the largest shareholder of Sovereign Bancorp, Inc. (NYSE: SOV) with approximately 8.4% of the outstanding shares, announced today that it has filed a lawsuit against the Commonwealth of Pennsylvania seeking to invalidate Act 6 of 2006, the recently enacted special legislation passed for the...
Rendell signs bill aiding Sovereign
- 2006-02-11
Gov. Rendell signed into law yesterday a bill designed to protect Sovereign Bancorp Inc. against dissident investors. Brushing aside complaints by Relational Investors L.L.C., Franklin Mutual Advisers L.L.C., and other big Sovereign shareholders that Senate Bill 595 unfairly benefits the bank's executives at the expense of shareholders' rights, Rendell...
Relational Investors Responds to Proposed Pennsylvania Legislation
- 2006-02-03
SAN DIEGO, Calif. -- Relational Investors LLC, the largest shareholder of Sovereign Bancorp, Inc. (NYSE: SOV) with 8% of the outstanding shares, today issued the following statement in response to passage of SB-595 by the Pennsylvania Legislature: "According to press reports, including an article in this morning's Philadelphia Inquirer,...
Relational Sues Sovereign and Santander; Alleges Pennsylvania Law Obligates Santander to Pay ``Fair Value'' to All Shareholders
- 2005-12-12
SAN DIEGO -- Relational Investors LLC, the largest shareholder of Sovereign Bancorp, Inc. (NYSE: SOV), announced today that it has filed a lawsuit in U.S. District Court for the Southern District of New York against Sovereign Bancorp, Inc. and Banco Santander Central Hispano, S. A. (NYSE: STD). The lawsuit...
Investing in NYSE a mixed bag; Activists high on shares, others not.(News)
- 2005-12-12
Byline: Gregory Crawford Value and growth stock money managers might not be gung-ho about investing in the new New York Stock Exchange when it is expected to go public next month - unless they want to change the Big Board. Value managers,...
Relational Petitions NYSE to Require Shareholder Vote
- 2005-11-08
SAN DIEGO -- Relational Investors ("Relational") today submitted a petition to the New York Stock Exchange NYSE to require a shareholder vote for the proposed Sovereign Bancorp (NYSE: SOV) transaction with Banco Santander. Relational, the largest shareholder of Sovereign Bancorp, is also seeking the election of two independent directors to...
Relational to Webcast Shareholder Forum
- 2005-11-08
SAN DIEGO -- Today Relational Investors announced that due to the high level of interest in its Sovereign Bancorp Shareholder Value Forum held today, the forum will be broadcast via the Internet beginning at 9:00 a.m. EST tomorrow. The Forum was held Tuesday, November 8, 2005, from 10:00 a.m....
Main Street Bancorp, Inc. Shareholders Vote to Approve Merger with Sovereign Bancorp, Inc
- 2001-12-20
Business Editors
Carnegie Bancorp Prepares For Shareholder Vote on Proposed Merger
- 1998-07-01
PRINCETON, N.J.--BUSINESS WIRE--July 1, 1998--Carnegie Bancorp announced that proxy materials were mailed today to its shareholders of record as of June 22, 1998.The proxy materials provide information regarding the proposed merger between Carnegie Bancorp and Sovereign Bancorp Inc. Carnegie shareholders will vote on the merger proposal at Carnegie's Annual Meeting...
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