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M&T Bank

(MTB) - Get M&T Bank Corporation (MTB) Report

is getting a new CEO.

The Buffalo, N.Y.-based bank says CEO Robert Sadler Jr. is stepping down at year's end. His successor will be the bank's current chairman, Robert Wilmers.

Sadler, who will remain a director of the bank and become vice chairman, notified the lender's board of his decision on Nov. 21.

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The job changes will take effect on Jan. 1, 2007.

Allied Irish Banks

owns 24% of M&T Bank. The lender's second-biggest shareholder is Warren Buffett's

Berkshire Hathaway

( BRKA) conglomerate.