Meet Joe Shaw, First Vice President of First Niagara Bank

I had the opportunity to meet Joe Shaw at a Manchester Chamber of Commerce netwoking event and he was gracious when I asked him for an interview for Manchester Patch. Joe is quite a busy person with two offices, one in Manchester and one in West Springfield.

Timothy Becker: Joe, what is your education and background in banking?

Joe Shaw: I majored in German at Williams College in Williamstown, Massachusetts and then went on to Columbia University in New York City for my MBA in finance and accounting. I started with Manufacturers Hanover in the credit training program and went on to their international division. I dealt with six German companies and their U.S. subsidiaries. I didn't like living in New York City and in 1984 I joined the Bank of Boston as a senior loan officer in Berkshire County. I then left banking and became a mergers and acquisitions consultant. I got to see family businesses up close and I came to understand their needs. One day I went to talk to West Bank with New Alliance Bank about a business sale I was working on, and I was offered a position as a business banker. I accepted and my duties have expanded since that time.

Timothy Becker: What responsibilities do you have in your current position as First Vice-President and Regional Team Leader for First Niagara?

Joe Shaw: I manage the business banking team that includes 10 relationship managers and senior loan officers. We are at a size that enables First Niagara to offer much more than smaller banks can offer, while keeping the community bank feeling.

Timothy Becker: Manchester residents were very concerned about the jobs that were lost in town due to the merger. Where does First Niagara stand with the restoration of those positions?

Joe Shaw: By the end of 2012 job positions in New England will be back to pre-merger levels. Our plan for that is on track.

Timothy Becker: First Niagara was very generous to the town of Manchester in , to the town for use as an art gallery and classrooms for Manchester Community College. How is that project progressing?

Joe Shaw: It's exciting that we could be part of Downtown Manchester. Our CEO John Koeimel made the decision to demonstrate the bank's commitment to enhance the vitality of downtown Manchester. They are under construction and on track for a spring opening.

Timothy Becker: Have you found Connecticut to be a very different market than what you are used to?

Joe Shaw: The market is not very different than western Massachusetts as far as the many individually owned family businesses. The Hartford/Springfield I-91 corridor is now being marketed as a knowledge corridor. The number of colleges and universities here is significant. When companies look at demographics, especially European investors, there are many similarities including the educated workforce and quality of life here.

Timothy Becker: Can you share any of First Niagara's plans to expand in the area?

Joe Shaw: There are plans to expand our branches throughout the New England region. We are aggressively seeking loan opportunities. We are eager to lend. Our loan decisions are faster than our competitors. 95 percent of all our loan decisions are made locally without a committee. We have a different attitude towards timing and approval.