Banc One Corp. has hired a 27-year veteran of Norwest Corp. to build its burgeoning international banking business.
Darin Narayana, who ran Norwest's international division over the past four years, will become president and chief operating officer of the newly formed Banc One International Co. on Thursday.
"I want a chance to build another powerhouse trade finance business," said Mr. Narayana, who will be based in Dallas. "It sounds like a mountain I'd like to climb."
Norwest wasted no time naming a successor, tapping Richard Ferris, the No. 2 person in the Minneapolis company's international banking division. Mr. Ferris has been a senior vice president in Norwest's international banking group since 1992, with responsibility for large corporate and international trade services. Mr. Narayana said Mr. Ferris was named July 12, the same day he announced his resignation.
Tyree Miller, director of the commercial banking council at Banc One, said Mr. Narayana's appointment is part of a reorganization of commercial banking functions at the $97 billion-asset company. Managers of Banc One trade offices in eight states will report to Mr. Narayana, who in turn will report to Mr. Miller.
The 52-year-old Mr. Narayana had spent his entire career at Norwest. Richard Lehmann, Banc One's president and chief operating officer, said the Indian-born Mr. Narayana is "one of the best in the international banking business."
"He has a very good reputation in the industry," added Mr. Miller. "He's well known and very visible."
Henry "Chip" Dickson of Smith Barney Inc. said regional banks' international divisions won't generate much revenue but will become increasingly necessary to attract business customers, particularly manufacturers, as import-export volumes increase.
