BANK OF NEW YORK CO. has named F. James Hutchinson, chairman of its National Community division in West Paterson, N.J., to the additional post of president.

He succeeds Donald L. Colby, who has become head of worldwide institutional custody operation at the parent company in New York.

Mr. Hutchinson joined Bank of New York in 1969.

Before being named chairman in April, he had been involved with the sales and marketing of personal trust and investment products in New York and New Jersey.

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