Richard L. Saalfeld has left Corelink Resources, the bank investment
Mr. Saalfeld, whose last title was chairman, left late last month, days
Bisys, a supplier of financial services and technology to banks,
With the acquisition, Bisys received Concord's 46% of Corelink and an
Right now, Dennis Sheehan, Concord's chief financial officer, is acting
In an interview, Mr. Saalfeld tied his departure to Concord's new
Bisys, he said, wants to put its own imprint on Corelink. "They will be
But Robert McMullan, chief financial officer at Bisys, said a
Bisys, he added, had no legal muscle to force Mr. Saalfeld out, since
The two executives also disagree about where Corelink is heading.
Mr. Saalfeld said Bisys will "shut down" its own fledgling investment
Mr. McMullan insisted no such decision had been made. Corelink "has a
Mr. Saalfeld, a former executive vice president at BankAmerica,
Concord saw the company as an additional sales channel for the propriety
Corelink has 30 clients, mostly smaller banks in California. The company
Mr. Saalfeld said Corelink sold about $100 million of mutual funds and
Corelink is based in Concord, Calif. Bisys headquarters is in Little