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Roma Bank CEO Peter Inverso says he will step down at the end of this year. In this file photo, Inverso annouces that he will not seek reelection to the 14th Legislative District in a press conference at Megan Kanka Memorial Park in March 2007. Michael Mancuso/The Times ROBBINSVILLE – After more than a decade at the helm of Roma Financial Corporation, president and chief executive officer Peter Inverso said today that he plans to retire at the end of next year.
"I will be turning 75 at the termination of my employment agreement and intend to lessen my pace and spend more quality time with my family,” Inverso said in a news release. “In the meantime, for my hardworking senior leadership team, our dedicated employees, and me, it will be business as usual, while ensuring a smooth and seamless transfer of leadership to whomever succeeds me.”
Inverso, a former five-term state senator, has served as president and CEO of Roma since 2000. He was instrumental in taking the company public in 2006 and forming Roma Financial Corporation, which holds Roma Bank, a community bank headquartered in Robbinsville, and RomAsia Bank of South Brunswick.
During Inverso’s tenure as CEO the corporation has grown from $538 million to $1.9 billion in assets, Roma chairman Michele Siekerka said.
"He epitomizes Roma's core values -- 'strength, loyalty, wisdom and vision,'" she said in the release.
Inverso will continue in his position until a successor is in place and then will serve in an advisory role to assist the transition, he said.
The company said its board of directors will form a search committee for his successor when his contract expires Dec. 31.
“Its bitter-sweet. Chapters of the book are closing while others are opening,” Inverso said this afternoon. “I will leave the bank well-capitalized, knowing we got through some of the most difficult economic times anyone has ever seen in banking.”
Contact Joshua Rosenau at (609) 989-5707 or jrosenau@njtimes.com.
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