Crestar Bank, Richmond, Va., has promoted Horace L. Allen, a senior vice president, to head a new commercial treasury management division, which includes cash management sales and cash management product development departments.

Mr. Allen, who joined the Crestar Financial Corp. unit in 1973, had been the head of the cash management sales department since 1988. Before that, he had worked in the computer operations and systems area.

Mr. Allen also serves as finance chairman of EastPay, the automated clearing house association for Virginia banks.

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