LOS ANGELES -- Jack A. Frazee has resigned as executive vice president and chief financial officer of H.F. Ahmanson & Co., the nation's largest thrift company.

Well-informed sources said Mr. Frazee and Charles R. Rinehart, president and chief operating officer, were rivals to succeed longtime chairman Richard H. Deihl.

Mr. Frazee's May 14 departure, which was not publicly announced, was viewed as a sign that Mr. Rinehart has become heir apparent. Mr. Deihl, 63, has not indicated when he might step down.

No Successor Yet

A replacement chief financial officer has not been named. Ahmanson officials confirmed Mr. Frazee had resigned but would say only that he had decided to pursue personal interests.

Mr. Frazee, described by a former colleague as "a very bright and creative guy," could not be reached for comment. He was paid $472,000 in 1991 to mind the finances of the $47.2 billion-asset company.

He had been CFO since April 1989. Before that he was executive vice president and chief financial officer of Los Angeles-based Union Bank, for which he had worked since 1968.

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