Executive Changes

NEW ENGLAND

Eastern Bank Corp. in Boston has promoted its chief financial officer, Richard E. Holbrook, to president and chief operating officer.

He succeeded Stanley J. Lukowski, who remains the chief executive officer and chairman and continues to oversee commercial lending, consumer banking, and asset management.

In his new role Mr. Holbrook oversees support functions, technology, finance, human resources, operations, and credit policy and review. He is to remain the chief financial officer, a post he has held since he joined $3.4 billion-asset Eastern in 1996, until a successor is named.

Before joining the company he had been an executive vice president and the chief financial officer at Osteo/Arthritis Sciences Inc., a venture capital-financed, development-stage biotechnology research company in Cambridge, Mass.

Before that he had been a senior vice president and the corporate controller at Bank of New England, where he worked for 11 years and held such posts as commercial lender, trust officer, director of retail retirement products, and director of strategic planning. (Fleet Financial Group, now FleetBoston Financial Corp., bought Bank of New England in 1991.)


SOUTHEASTSouthwest Bank of Texas in Houston has given Kenneth W. Olan, who works in the bank's retail banking division, the title of executive vice president.

He continues to report to Paul B. Murphy, president and chief executive officer of the $3.3 billion-asset bank.

Mr. Olan's responsibilities, which do not change, include overseeing the retail banking division's profitability and managing the enterprisewide corporate marketing group.

He joined Southwest Bank as a senior vice president in 1998. Before that he had been a vice president at Bank United in Houston. Still earlier he had been an assistant vice president at Citibank, where he worked for seven years.

He has 14 years of banking experience and specializes in marketing, sales and business development, cultural change, and profit and loss management.

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