The new BankAmerica Corp., which completed its merger with NationsBank Corp. Sept. 30, said Monday that Catherine P. Bessant had been named president of the $595 billion-asset institution's community development bank.

That pushes aside Donald A. Mullane, who had run community development at the old BankAmerica. Mr. Mullane said he would resign Dec. 31.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.