Univest Corporation Continues Tradition of “Promotion from Within” with Appointment of Jeffrey M. Schweitzer to Chief Executive Officer

Schweitzer to continue in his role as President in addition to becoming CEO January 1, 2014


jeff



SOUDERTON, Pa., July 25, 2013 - Univest Corporation of Pennsylvania ("Univest") (NASDAQ: UVSP), which was formed as the holding company of Univest Bank and Trust Co. in 1973, has been guided by loyal leaders throughout its history.  In fact, Jeffrey M. Schweitzer will only be the third leader of the Corporation to serve in this capacity when he becomes president and chief executive officer (CEO) on January 1, 2014.  He follows notable leaders Merrill S. Moyer who served as CEO, in addition to other roles, from 1984 to1999 and William S. Aichele who served as president and CEO from 1999 to 2005; chairman, president and CEO from 2005 to 2013; and chairman and CEO from 2013 to 2014.  Aichele will remain chairman of Univest Corporation and Univest Bank and Trust Co. upon his retirement, effective January 1, 2014.

 

Across the financial service industry the appointment of new CEOs is happening more frequently in recent years.  Often an individual is hired to join an organization as CEO.  Univest Corporation's succession plan and timeline announced yesterday bucks this trend and shows its commitment to continuity of its mission, vision and core values.

 

"Continuity in management fosters harmony and unity, helping to maintain upon Univest's traditions while actively pursuing innovation to build our business and meet the needs of our employees, customers, shareholders and communities," said Aichele.  "At Univest, we take succession planning very seriously.  I had tremendous mentors who shepherded me at Univest and it has been a pleasure to have the same opportunity to share my experiences with Jeff for almost six years.  I know the Corporation is in good hands.  We have a strong board of directors, executive management team, and more than 620 dedicated employees ready to welcome the next generation of leadership."  

 

As chairman, Aichele will continue to act in an advisory role to Schweitzer as he retains his responsibility for the management, development and effective performance of the board of directors.  In addition, Aichele will maintain an active role in the Corporation's external relationships.  Aichele will continue to serve as chairman of the Grand View Hospital Board of Trustees and on the board of the North Penn United Way and James A. Michener Art Museum.

 

Schweitzer joined Univest in October 2007 as executive vice president and chief financial officer for Univest Corporation and Univest Bank and Trust Co.  In January 2011, Schweitzer was promoted to senior executive vice president and chief financial officer of  Univest Corporation and Univest Bank and Trust Co.  In July 2012, he assumed the additional role of chief operating officer.  Effective January 1, 2013, Schweitzer was named president and chief operating officer of Univest Corporation and senior executive vice president of Univest Bank and Trust Co. 

 

Prior to joining Univest, he worked for 12 years for Ernst & Young, LLP where he held the title of senior manager prior to his resignation.  In his role with Ernst & Young, LLP he specialized in banking and gained diverse experience in the financial services industry. 

 

Schweitzer graduated from the University of Notre Dame with a bachelor of science degree in accounting.  He also graduated from the American Bankers Association (ABA) Stonier Graduate School of Banking in Philadelphia and completed the "High-Potential Leaders: Accelerating Your Impact" leadership program through the Wharton School of the University of Pennsylvania. 

 

Schweitzer serves on the board of directors for the Pennsylvania Bankers Public Affairs Committee and the North Penn and Indian Valley Boys and Girls Club.  Schweitzer resides in Skippack with his wife Meghan and four children.

 

About Univest Corporation

Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester and Montgomery counties, and the Lehigh Valley.   For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net.

 

This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Actual results and trends could differ materially from those set forth in such statements due to various factors.  Such factors include the possibility that increased demand or prices for the Company's financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the company's filings with the Securities and Exchange Commission.