Chemical Banking Corp. and Manufacturers Hanover Corp. announced Tuesday a number of senior-level appointments in the credit and risk policy areas.
William Langley, who was previously named chief credit officer of the new Chemical, is a Hanover veteran, as are his newly named direct reports.
They are Prescott Blatterman, who will be responsible for commercial loan quality; John Belisle, in charge of commercial loan workouts; and William Repko, responsible for loan portfolio projects and privatization activities.
Kellner Had No Counterpart
One of the more prominent names that surfaced in Tuesday's announcement to employees was that of Irwin Kellner, Hanover's high-profile chief economist, who will hold the same post at the merged bank.
Mr. Kellner had no counterpart at Chemical, which disbanded its central economics department in the latter part of the 1980s.
In addition to Mr. Kellner, Hanover's economics department consists of six othe professionals and support staffers who are expected to remain after the merger.
"I expect to maintain the staff as far ahead as the eye can see," Mr. Kellner said.
Charles Lieberman, director of financial market research at Hanover, will have the same job at the new Chemical.
Joseph Carson, currently Chemical's chief money market economist, is expected to get a new post, but it has not been announced yet.
In the new organizational scheme, Mr. Kellner will report to J. Kevin McMahon, who will be responsible for portfolio planning, financial research and professional development.
Mr. McMahon, 49, is currently executive vice president and risk policy officer for Hanover.
Shift in Reporting
In that role, he has been on an equal standing with mr. Langley. However, in the new organization, Mr. McMahon will be reporting to William Pierce, the new chief risk policy officer of the merged banks.
In other areas, Chemical is putting an old hand in charge of risk management and policy development for the merged bank's commercial real estate activities.
The new post goes to John Kyle, 56, who has been with Chemical since 1957. He is currently senior credit officer and credit liaison for Chemical's regional banking group.
Mr. Kyle will report to Mr. Pierce.