A longtime local banking executive has announced his retirement.
Sandy Wolcott, who has been with JP Morgan Chase for nearly 40 years, will leave the bank next January. Most recently, he served as Vice Chairman of Northeast Middle Market Banking which covers a region stretching from Main to Virginia; previously he headed up commercial banking for Chase in Upstate New York.
He says one of the things that he will miss the most is mentoring young people in his business.
“They hear some of my Wolcott-isms, which I have tons of them, but I think that it’s good to have a mentor or a friend that can help them along in his or her career, to give them a little guidance.”
In terms of the Rochester economy, Wolcott says he is bullish on the region’s prospects, particularly as he notices the construction and development of apartments that is going on downtown.
“I can see an upswing in the Rochester economy and I’m very pleased with what I’m seeing happening downtown, I think that there is a great renaissance going on; it’s going to take a little while, I’m afraid, but with the changing of the buildings around downtown, I hope to see more people living downtown.”
His New York City colleagues nicknamed Wolcott "the Legend of Upstate," and Wolcott, who is 70 years old, says one of the things he will miss the most is the people he has worked with over the years.
Jamie Dimon, the chairman and CEO of JPMorgan Chase, said that “Sandy’s dedication to his clients and the entire Northeast community embodies what we as a firm strive for,” and Dimon said, “We’ll miss Sandy tremendously…”
Wolcott expects to stay active in the local area, perhaps joining the boards of a couple of companies.
