First Niagara Financial Group Inc. has promoted Tom Faughnan to senior director of residential mortgage, according to a release.
Faughnan was hired by the Buffalo bank in 2010 as senior vice president of residential lending. In his new role, he will develop and execute First Niagara's overall strategy and financial goals and maintain the day-to-day operations of the company's residential mortgage business, the bank said.
Faughnan, a graduate of the School of Consumer Lending at Fairfield University, is the former CEO and director of Home Funding Finders Inc., the bank said. He also worked at Coldwell Banker and the New York Business Development Group in the Albany area.
First Niagara Financial Group is the parent company of First Niagara Bank N.A. The financial institution - which has been searching since April for a permanent president and CEO to succeed John Koelmel - is one of the largest deposit-takers in Western New York.