Merger partners Keycorp and Society Corp. on Wednesday named Gary R. Allen and Henry L. Meyer 3d to head the combined entity's regional banking operations.
The operations will be segmented into four geographically based components.
Mr. Allen, 44, is chief banking officer at Albany-based Keycorp, while Mr. Meyer, 43, is chief banking officer at Cleveland-based Society, Mr Allen will relocate to Cleveland, the site of the new company's headquarters.
The merger, which will create a $58 billion-assets banking company, is schedules for completion in the first quarter of 1993.
Will Report to Gillespie
Mr. Allen and Mr. Meyer will have equal authority, and they will preside over varying portions of the merged entity's 13-state operations.
They will report to Robert W. Gillespie, currently Society's top officer, who will become president and chief operating officer of the new company.
Structurally, the regional operations will be clustered into groups operating in the Northeast, the Great Lakes, the Rocky Mountain region, and the Northwest.
Each regional banking group will have its own product and marketing support center, but the formation timetable and sites have not yet been established.
Under the envisioned support concept, each center will be staffed will specialists acting as consultants and expedites for the regional units.
A pilot test of the regional support concept is under way in the Northwest.
Roughly Equal Responsibility
In terms of assets administered. Mr. Allen and Mr. Meyer will have roughly equal responsibilities, although Mr. Allen will oversee operations in a greater number of states.
Mr. Allen will be responsible for operations in Colorado, Florida, Idaho, Indiana, Maine, Michigan, New York, Utah and Wyoming. Mr. Meyer will oversee operation in Alaska, Ohio, Oregon, and Washington.
Mr. Allen, who joined Keycorp in 1980, holds an undergraduat degree from State University of New York at Albany.
Mr. Meyer joined Society in 1972; he holds an undergraduate degree from Colgate University and an MBA from Harvard Business School.
