Chase Manhattan Corp. named two senior officers on Wednesday to head retail and wholesale marketing.
William Balderston 3d, 64, was named to the retail marketing post. Mr. Balderston was formerly chief executive of Chase Lincoln First, the bank's upstate affiliate, and most recently was in charge of acquisitions for Chase's retail branch network.
He will coordinate development of retail business strategies and marketing programs.
Reporting to President
His counterpart on the wholesale marketing side is Richard J. Canty, 45, who was president of Chase Securities Inc., the company's underwriting and capital markets subsidiary.
Neither executive will have business units reporting directly to him. Both will report to Arthur F. Ryan, Chase's president, and hold "sector-level positions equivalent to Chase's [six] senior business executives," the company said in a statement.
"This is a coordinating role at the overview level for all elements of retail marketing," said Mr. Balderston. "That includes prioritization of which parts of the retail market we should concentrate on."
Mr. Canty said that his main role would be to focus marketing programs on customer relationships.
Following a Precedent
"Consumer goods companies have a rich history in having established this concept," said Mr. Canty, who joined Chase in 1976.
Mr. Balderston and Mr. Canty said they would work closely with marketing directors and business unit managers in the retail and wholesale areas.
Chase named Paul Brandow, head of European global risk management in London, as president of Chase Securities.
