M&T Bank Corporation (MTB) Morgan Stanley US Financials Conference 2026 June 10, 2026 9:00 AM EDT
Company Participants
René Jones – Chairman & CEO
Presentation
Unknown Analyst
All right. Up next, we have M&T Bank, and we’re delighted to have with us today, Rene Jones, Chairman and CEO. Rene, thanks so much for joining us.
René Jones
Chairman & CEO
Happy to be here.
Question-and-Answer Session
Unknown Analyst
So Rene, let’s get right to it. In your annual letter, one of the things you highlighted was the bank’s ability to generate record earnings despite an uncertain environment, and we’re just seeing more of that uncertainty play out in the environment right now. Can you talk about the ways the business model has evolved over the years, particularly on the fee income side and where you’re most focused on investing now?
René Jones
Chairman & CEO
Yes. Yes, thanks. So I’ve been at the bank for 34 years. And it is really interesting to look back and think about sort of where we were, very small community bank in Buffalo, New York, fourth largest bank in Buffalo. And over time, I think one of the most important things — 2 important things is in the early days, we had very tight inside ownership management, the Board, employees own 25% of the company. At that time, Mr. Buffett owned 8% of the company. So it was very closely held, and I think that sort of set the tone. And then #2 was that Bob Wilmers believed in talent. So immediately, when he came in 1983 to M&T, he brought pretty much all the JPMorgan training programs. And if there was ever a recession, instead of cutting them, he would double them because he would say that this is the only time we can get anybody to move to Buffalo.