Chemical Banking Corp. and Manufacturers Hanover Corp. named on Friday the executives who will head credit and marketing after the bank's planned merger.
Also, the banks last week internally announced appointments and structural changes in their middle-market businesses.
Hanover's chief credit officer, William C. Langley, will maintain his role at the combined bank. His Chemical counterpart, William C. Pierce, will assist him as chief risk-policy officer, developing risk monitoring procedures. Mr. Langley is 52. Mr. Pierce is 51.
Hanover's Charles McCabe, 54, will retain his role running corporate marketing and communications. John J. Stefans, 48, will continue to assist him as head of corporate communications, including press relations.
The banks are expected to announce this week that hanover's Carol Parry, who runs small-business lending, will become Community Reinvestment Act coordinator.
Chemical last week said it would increase the number of its middle-market regions from three to seven, apparently to accomodate the placement of senior executives. The bank will have the strongest middle-market share in the metropolitan New York area. As previously reported, Chemical's Frank Lourenso will run the middle-market group.
In Manhattan, Chemical will grow from one to three divisions serving midsize businesses. William Wulfing of Chemical will head division 1; Anthony Scarpa, Hanover's mid-Manhattan small-business guru, will head division 2; and Tazewell A. Smith, who runs Manufacturers' business banking and urban lending activities, will head division 3.
Other survivors in middle-market are: Chemical's Kenneth J. Daley, who will continue to run Long Island; Hanover's Kenneth W. Keller, a small-business specialist overseeing the New York City boroughs of Brookly, Queens, And Staten Island; Chemical's Richard B. Aliperti, who will continue to run lending in the Bronx, Westchester County, and Connecticut; and Hanover's Charles H. O'Neil, who will stay in charge of upstale New York.
Structured finance in the middle market will be run by Chemical's William N. Britton, while Chemical's David A. Brandely will remain in charge of credit policy in the division.
