DALLAS -- BankAmerica Corp. has named Ronald Biagi head of its Texas operations, replacing Larry McNabb who will return to San Francisco to manage the company's global payment services division.
Mr. Biagi, 48, is a 28-year BankAmerica veteran. As chief executive of the company's New Mexico operations since 1991, he was responsible for consolidating the company's acquisitions of ABQ Federal Savings Bank and Sandia Federal Savings, two Albuquerque-based thrifts.
He is expected to boost the Texas bank's consumer and commercial businesses. At Sept. 30, Bank of America-Texas reported total loans outstanding of $3.7 billion from a total asset base of $8.5 billion. Of this, commercial and industrial loans amounted to $157 million.
"I look forward to working with the Texas management team to build off of our strong retail franchise and grow our commercial banking presence in the state," Mr. Biagi said in a release.
The appointment of Mr. Biagi comes after the company's Nov. 1 announcement that Mr. McNabb would be leaving for a job at the bank's headquarters.
There, Mr. McNabb will be responsible for payment business strategy. He will also develop, market, and sell treasury management and payment products to large and midsize companies worldwide.
After the company's merger with Security Pacific in 1991, Mr. McNabb was responsible for integrating the operations of the two companies. In 1993, the company named him head of its Texas operations.
