Richard E. Stierwalt, chief executive of Concord Holding Corp., has been named to the additional post of chairman of the board. William B. Blundin was appointed vice chairman. He relinquished his former title of president.
Both men are founders of the New York-based company, which is the No. 1 administrator of bank-managed mutual funds.
Concord's bank clients include BankAmerica Corp., Chase Manhattan Corp., and Barnett Banks Inc. The company had $29.5 billion of mutual fund assets under management as of June 30, according to Lipper Analytical Services.