CoreStates Financial Corp. handed additional power on Tuesday to Rosemarie B. Greco, president and chief executive of its flagship Philadelphia bank, by making her chief retail services officer of the holding company.
Ms. Greco, 47, will take over the position on Oct. 1. She will replace Robert B. Palmer, 53, a 29-year veteran of the Philadelphia-based company.
In a news release, CoreStates said Mr. Palmer will retire in January 1995. Until then, he will continue to oversee the bank's public responsibility program and will remain chairman of First Pennsylvania Bank. Mr. Palmer has been head of retail banking since March 1991.
As president and chief executive of First Pennsylvania, Ms. Greco ranks as one of the most powerful women in banking.
1st Fidelity Bank President
Her elevation to chief retail officer of the company, which has about $23.5 billion of assets, was signaled earlier this year when she assumed responsibility for retail delivery systems and retail credit services.
Ms. Greco joined CoreStates in February 1991 from First Fidelity Bancorp, where she was president of First Fidelity Bank and senior executive vice president of the holding company.
She is the first and only woman to be admitted to the Association of Reserve City Bankers. Earlier this year, she was elected a director of the organization.