M&T Bank Corporation announced the election of Carlton J. Charles, Senior Vice President, Treasury and Risk Management at Hearst, to its Board of Directors, effective January 18, 2023. Upon his election, Mr. Charles was appointed as a member of the Nomination and Governance Committee of M&T's Board. Mr. Charles was also elected to the Board of Directors of M&T Bank, M&T's principal banking subsidiary.

Mr. Charles serves as Corporate Treasurer for Hearst, a leading global, diversified information, services, and media company with operations in 40 countries. He oversees the company's risk management activities as chairman of the Risk Working Group, which he helped establish at Hearst. Mr. Charles also leads insurance operations for the company, serves as Chairman of Level Up Ventures, a venture capital unit within Hearst focused on Black and Latino entrepreneurs, and is currently guiding an effort to further diversify Hearst's roster of vendor partners.

Mr. Charles serves on the Hearst Board of Directors and the Board of Advisors for Hearst Lab, Hearst's platform for nurturing the growth of early-stage, women-led companies. Before Hearst, Mr. Charles served as Senior Vice President and Chief Operational Risk Officer at Moody's Corporation, where he was an early architect of Moody's Enterprise Risk Management program. His prior career experiences included roles with International Paper and Viacom.

A resident of New York City, Mr. Charles serves on the board of BUILD. Mr. Charles earned his MBA in finance from the University of Chicago and holds a master's in public policy, and a bachelor's degree in quantitative economics from the State University of New York at Stony Brook.