Former banker Richard L. Saalfeld has been named chairman and chief executive of Corebank Resources Inc., a new supplier of investment product marketing programs for banks.
Concord Holding Corp., the leading administrator of bank-sponsored mutual funds, holds a majority stake in Corebank, which is based in San Francisco.
Mr. Saalfeld spent nearly 20 years with BankAmerica Corp. He was executive vice president for the Americas group when he resigned in 1988 to join Equitec Financial Group Inc. He was president and chief operating officer of Equitec, a diversified asset management firm in Oakland, Calif.
Roger M. Loar was named president of Corebank Resources. He was formerly senior vice president and chief financial officer of Franklin Resources Inc., San Mateo, Calif.
A. Ray Freeman was named executive vice president. He will continue as president of A. Ray Freeman & Co., a broker-dealer serving some 100 community banks. It has been acquired by Corebank Resources.