MIDDLE ATLANTIC

Salomon Smith Barney, a unit of Citigroup Inc., has hired the head of marketing new issues at Donaldson, Lufkin & Jenrette’s institutional equities division.

J. Barry O’Brien will be Salomon’s head of U.S. execution for equity capital markets. As at Donaldson, his rank will be managing director.

He will also be the chairman of Salomon’s equity capital markets issues and valuation committee and a member of its commitment committee. He will report to Rick Bartlett and Tyler Dickson, co-heads of U.S. equity capital markets.

Mr. O’Brien worked five years for Donaldson. Before that he had been the vice president of institutional equity sales at Goldman, Sachs & Co., where he had worked for 10 years.


SOUTHEASTFleet Mortgage Group in Columbia, S.C., has hired Mary E. Stachura as executive vice president of marketing and communications.

She reports to Michael J. Torke, president and CEO of Fleet Mortgage, and has also become a member of the company’s executive operating committee.

Ms. Stachura was the development manager and a senior vice president at Bank of America Mortgage.

The FleetBoston Financial Corp. unit has also hired Daniel Russell 3d as senior vice president and managing director of emerging markets.

He is responsible for directing Fleet Mortgage’s fair-lending initiatives, particularly among low- and moderate-income minority and immigrant borrowers. He reports to John F. Frazza, senior vice president of retail lending.

Mr. Russell, 55, was the executive vice president of emerging markets at Wells Fargo Home Mortgage for four years. Before that he had been the vice president for affordable housing lending and community development lending at Freddie Mac, where he had also worked for four years.

He has 30 years of mortgage and real estate development experience.


WESTWashington Mutual Inc. has hired Art Rivera to head its community economic development activities in San Diego.

He is responsible for community lending efforts there and is the liaison to community and nonprofit organizations in the area.

Before joining Washington Mutual, Mr. Rivera owned and operated his own commercial loan brokerage company. Before that he had worked at Fannie Mae, first as an associate underwriter in the multifamily loan department and, starting in 1992, in Fannie’s affordable-housing group, where he developed investment opportunities, marketed lending products, and trained lenders. He joined Fannie Mae in 1985

Mr. Rivera has 18 years of financial services experience. He started his career as a real estate appraiser in the savings and loan industry.


Unionbancal Corp. in San Francisco has announced the retirement of Peter R. Butcher as executive vice president and chief credit officer of its principal subsidiary, Union Bank of California.Mr. Butcher, 60, held the same jobs at Bank of California since 1993 and retained them in 1996 when it merged with the old Union Bank of California. Before joining Bank of California he had been the chief credit officer and an executive vice president at Ameritrust Corp. in Cleveland.

He has 40 years of commercial and international banking experience, including senior posts at Midland Bank Group in the United Kingdom.

Philip B. Flynn, executive vice president and head of specialized lending at Union Bank of California, has succeeded Mr. Butcher as chief credit officer and has become head of the bank’s credit management group.

Robert Walker, vice chairman of Unionbancal and head of its commercial financial services group, is overseeing the specialized lending group until Mr. Flynn’s successor is named.

Mr. Flynn, 42, had begun his banking career at Union Bank in 1980 as a credit trainee in the loan analysis department. He had been senior vice president of Union Bank’s energy capital services division when it merged with Bank of California, at which time he had become executive vice president.

Before becoming head of Union Bank of California’s specialized lending group, he had been in charge of its middle-market lending operations.

Union Bank of California has $33.6 billion of assets and is mostly owned by Bank of Tokyo-Mitsubishi Ltd.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.