The management announcements from the new BankAmerica Corp. just keep coming.
On Wednesday afternoon merger partners NationsBank Corp. and BankAmerica said two more key executive posts would go to NationsBank executives.
The announcement came 24 hours after they unveiled a bumper crop of 35 appointments-21 of which went to NationsBank executives. Many of the emerging leaders are spotlighted below and on page 25.
In the latest announcement, James Dixon, 54, was named group executive for technology and operations, based in Atlanta. He is currently president of NationsBanc Services Inc. and is responsible for technology and operations.
Also, Marc Oken, 51, was named principal financial executive, based in Charlotte, N.C. He is now chief accounting officer for NationsBank.
Both will report to James Hance, a NationsBank vice chairman who is to be chief financial officer of the combined $570 billion-asset company. The merger, unveiled April 13, is expected to close Oct. 1, pending regulatory approval.
The earlier round of appointments, announced Tuesday evening, underscored NationsBank's dominance on the retail side.
NationsBank president Kenneth D. Lewis, president-designate of the new BankAmerica's consumer and commercial banking group, had been widely expected to name many of his own people to top spots in the new company.
The two companies laid out a new geographic organizational chart that will guide the consumer and commercial banking group. Resources will be organized around customers in three regions-the East, Southwest/Midwest, and West.
Meanwhile, most lead roles in wholesale and corporate services went to BankAmerica executives.
As previously announced, BankAmerica vice chairman Michael J. Murray is to become president of the global corporate and investment bank. The five international and domestic corporate banking divisions reporting to him will be led by BankAmerica executives.
So far, the lineup is drawing favorable reviews. R. Harold Schroeder, an analyst at Keefe, Bruyette & Woods Inc., said the leadership lineup made sense. "They have all-star teams on both sides. They've picked the best people for the jobs," he said.
Though BankAmerica is known as a strong consumer bank in California, it may be even better known for its corporate side, Mr. Schroeder said. Moreover, since its January 1997 acquisition of Boatmen's Bancshares, NationsBank has focused much effort on rebuilding its general bank.
