Mellon Bank Corp. announced that William J. Stallkamp, the chairman and chief executive officer of Mellon PSFS, will retire at yearend.

Succeeding him as CEO will be Paul S. Beideman, 49, who will assume the post Aug. 16. Mr. Stallkamp, 60, will remain Mellon PSFS' chairman until Dec. 31, when Mr. Beideman will assume that title as well.

Mr. Beideman will continue in his current role as executive vice president and head of Mellon Retail Financial Services.

Mellon PSFS, part of Mellon Bank, operates bank branches in Philadelphia and southern New Jersey.

It is a successor to Philadelphia Savings Fund Society, a retail bank that Mellon bought in the early 1990s, a bank spokesman said.

Mr. Stallkamp will remain on the Mellon PSFS regional board of directors after his retirement.

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