By Joshua Burd
PRC Group has hired a familiar face and a well-known banking executive in New Jersey as its new chief operating officer.
Stanley J. Koreyva Jr., a mainstay at Amboy Bank, joined the West Long Branch-based developer in the new position earlier this week. The move comes after nearly 30 years at Amboy, where he most recently served as its president following a decade as executive vice president and chief operating officer.
In an interview, Koreyva said the decision stems from a relationship between Amboy and PRC that goes back to the financial crisis of 2008. The developer “helped us tremendously” in completing and selling many of the projects it had taken back around the downturn.
As a result, Koreyva said he had “been a developer by default” for more than a decade but was now eager to be a developer by choice, joking that he “became a real deal junkie after all these years of selling out all of the real estate that came back at Amboy.” And he said the timing was right after discussions with PRC Group Chairman Robert M. Kaye and President Kenneth Koehler.
He will now work with a development team that also includes Greg Lentine, vice president of sales and marketing and director of campus development. The firm and its member companies have been active in both residential and commercial construction, having recently expanded into higher education with mixed-use projects such as Campus Town at The College of New Jersey.
“We are looking to continue to grow the PRC name,” Koreyva said, citing PRC’s pipeline of projects in Jersey City, Newark and Bayonne, among others, “and to continue what Bob, Ken and Greg have all accomplished here already.”
He added: “I still have a wonderful relationship” with Amboy Bank and George E. Scharpf, its chairman and CEO. Koreyva joined the community bank in 1990 and held various roles before being promoted to EVP and chief operating officer in 2008.
He was promoted to president last spring.
(Editor’s note: A previous version of this story contained inaccurate information about Stanley Koreyva’s new position with PRC Group.)