BankAmerica Corp. has appointed Charles M. Baynard executive in charge of the insurance services group.
Mr. Baynard, who had captained NationsBank's Texas consumer banking division, will oversee all insurance products from the company's headquarters in Charlotte, N.C. Annuity sales fall under retail banking in the merged organization.
Mr. Baynard succeeds Leonard A. Mariani, who held the position since last fall. Reached at his home in New Jersey, Mr. Mariani said he had brought his family to investigate Charlotte but decided against moving there.
"I elected to move on. It was a personal, professional, and financial decision," he said. "It was entirely my decision."
Mr. Mariani said he will continue working for the company during an unspecified transitional period.
Mr. Baynard, who declined to be interviewed, will report to James G. Jones, president of the direct banking group.
Reporting to Mr. Baynard will be Dean Purvis, senior vice president in charge of basic and supplemental insurance; Rex Morland, in charge of payment protection businesses such as credit life products; and James Aeling, the group's chief financial officer.
Connie Beck succeeds Mr. Baynard in Texas. She previously was NationsBank's head of small-business and professional and executive banking for Texas.
