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M&T Bank Names Tim Gallagher Head of Commercial Real Estate


M&T Bank (MTB) has hired Tim Gallagher from Slate Asset Management as its new head of commercial real estate, Commercial Observer has learned.

Gallagher, who spent the last two years as managing director at Slate, arrives at M&T with more than 25 years of CRE experience that also included roles at Morgan Stanley, Goldman Sachs and Annaly Capital Management. He will work closely with Matt Petrula, head of regional real estate, in coordinating M&T’s on- and off-balance sheet lending strategies. 

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Gallagher will report to Peter D’Arcy, former head of CRE who was recently promoted to senior executive vice president-head of commercial banking. M&T’s CRE team led by D’Arcy and Petrula executed $14 billion of new originations in 2022 compared to $13 billion the year before. 

The hiring of Gallagher was among a slew of leadership updates announced by D’Arcy which includes promoting Hugh Giorgio as head of investment banking from his current role leading debt capital markets. Giorgio will retain his responsibilities as head of debt capital markets while also expanding into oversight of M&T’s broker-dealer, securities, and mergers & acquisitions advisory business units.

The Buffalo-based bank also named Jeff Carpenter from People’s United as head of specialty and corporate banking. Michelle Brett, who spent the last 19 years at JPMorgan Chase, was also added as head of commercial risk.

“The deep breadth of experience that Gallagher, Giorgio, Carpenter and Brett bring when combined with our strong existing leadership team allows us to execute our strategy while ensuring we continue to evolve with our customers and expand our product offerings,” D’Arcy said in a statement.

Andrew Coen can be reached at