Matt Glynn, The Buffalo News
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Matt Glynn

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Matt Glynn has been a business reporter with The Buffalo News since 2000. He is a native of Youngstown, N.Y., and lives in Buffalo.

Pegula Sports and Entertainment announced Wednesday it has formed a Buffalo-based marketing and communications agency called PicSix Creative. Pegula Sports and Entertainment, which manages the Buffalo Bills and Sabres, previously centralized its in-house marketing, creative services and communications to work on projects related to the teams and other Pegula-owned ent…

WARSAW – A year ago, Five Star Bank's parent company, Financial Institutions, was embroiled in an expensive battle with an activist investor over the bank's future. The investor, Texas-based Johnny Guerry, urged the bank to put itself up for sale, criticized the bank’s leadership and made an unsuccessful run for control of two board seats. A year later, after Guerr…

Athenex Inc. on Monday announced the closing of its initial public offering of 6.9 million shares of common stock. The Buffalo-based drug developer priced its shares at $11 when trading began last Wednesday. Athenex's shares closed at $14.52 per share on Nasdaq.

The Buffalo Niagara region added 3,600 jobs in May compared to a year ago, an increase of 0.6 percent, the state Labor Department said Thursday. The region's job-growth rate lagged the statewide increase of 1.6 percent, and the national increase of 1.5 percent. The Buffalo Niagara region's manufacturing job count increased by 0.4 percent, while construction jobs decl…

Cornerstone Community Federal Credit Union will build a new branch at 4255 Witmer Road in the Town of Niagara, near the I-190, to eventually replace a location at 721 Center St. in Lewiston. The new, 3,300-square-foot branch, with an estimated cost of $1.8 million, is expected to open by early December. "We felt this location was better suited and easier to access…

KeyBank will donate more than 3,000 laptop and desktop computers, along with other office equipment and furnishings, worth about $390,000 to 40 area community service organizations. KeyBank said the majority of the technology that will be donated to groups in Erie and Niagara counties became available because of Key's acquisition of First Niagara last year. One of t…

An automotive replacement parts company will close an Amherst office, eliminating 38 jobs. IEH Auto Parts, which does business as Auto Plus, will start laying off employees at the 20 Hazelwood Drive location on Sept. 1, and finish the cuts at the end of that month, according to a notice filed with the state Labor Department. "As part of its ongoing review of opera…

Steuben Trust Co. plans to open its first Erie County branch and hired an Evans Bank executive as its new president. The Hornell-based bank plans to buy a former KeyBank branch at 8503 Main St. in Clarence, at the intersection of Main and Harris Hill Road. But the bank needs state and federal regulators' approval before opening the new branch. Steuben Trust hopes…

An-Cor Industrial Plastics, a North Tonawanda maker of industrial equipment, will add 23 jobs as it upgrades its facilities, Gov. Andrew Cuomo's office said. The company plans to invest $439,000 in the upgrades and will also retain 45 other jobs. The company is eligible for $200,000 in Excelsior Jobs tax credits. An-Cor must achieve its hiring targets in order to…

Citi started out with a 10-employee check-clearing office in Cheektowaga more than 40 years ago, and now has more than 2,000 people in its high-tech Getzville facility. Geico began with just 75 people at temporary space in Amherst in 2004, and now has 3,000 people at its complex in Getzville. Strategic Financial Solutions wants to follow their path. The New York …

John Rumschik got into the insurance business because of stories he heard over dinner. Rumschik's brother was a claims adjuster and often shared stories about his work at the dinner table. One such tale: A sheriff was playing golf in a charity event and hit a wayward shot into the parking lot. He heard the crash of a windshield, and went to leave the owner a note …

KeyCorp promoted two of its executives, Christopher Gorman and Donald Kimble, to vice chairmen, citing their contributions to completing the First Niagara acquisition. Gorman served as the bank's merger integration executive. Before that, he was president of Key Corporate Bank. In addition to vice chairman, Gorman was named president of banking. Kimble has served …

A Manhattan financial services firm that plans to bring up to 1,500 jobs to Amherst could receive up to $10 million in state tax credits, but must deliver on its job pledges to collect those incentives. Strategic Financial Solutions officials on Wednesday visited the home of the debt consolidation company's future expansion site, where it aims to build its work force to…

When Ryan Sasson was deciding where to expand his Manhattan financial services firm to add up to 1,500 jobs, the Buffalo region stood out for a number of reasons: • A low-cost, readily available labor supply • Several universities in close proximity • Its millennial population Those three factors helped lead to Tuesday's news that Strategic Financial Solu…

M&T Bank continued to lead the way in a key federally backed small business loan program in the Buffalo/Rochester region. Through the first eight months of the fiscal year, M&T recorded 153 of the 7(a) loans, ahead of Five Star Bank, which had 83. M&T also led in total loan dollars in the program over the same span, at $16.4 million. Five Star was second at …