Executive Changes

MIDWEST

Dain Rauscher Corp., the Minneapolis brokerage and investment banking subsidiary of Royal Bank of Canada, has promoted Carla Smith, its secretary and director of legal and compliance issues, to the rank of executive vice president.

Her responsibilities did not change, but she now reports to Irving Weiser, chairman, president, and chief executive officer.

Ms. Smith, 42, had been a senior vice president since 1994. She founded the firm's in-house legal department when she joined Dain Rauscher in 1991 as secretary and general counsel. When it consolidated its brokerage operations in 1998, she assumed responsibility for the firm's compliance functions.

Before joining Dain Rauscher she had been a partner in the corporate and finance practice of the Minneapolis law firm of Dorsey & Whitney, where she began her legal career in 1981.


The Federal Reserve Bank of Chicago said Gordon Werkema will become chief operating officer, with the rank of first vice president, in May.He will succeed William Conrad, who will retire after eight years in the job and 42 at the Chicago Fed.

Mr. Werkema, 43, will be responsible for all operating segments of the bank, its Detroit branch, and its regional offices.

He was an executive vice president and manager of the Seattle branch of the Federal Reserve Bank of San Francisco, where he was also responsible for the information and technology services, check, and business development divisions.

He had worked at the San Francisco Fed for 19 years, in jobs including assistant vice president of custody services, assistant vice president for product management, vice president of San Francisco operations, and senior vice president for Los Angeles operations.


SOUTHWESTBOK Financial Corp in Tulsa, Okla., has promoted Steven Nell to chief financial officer.

He succeeds James A. White, who left the company last year to work at BankAtlantic of Fort Lauderdale, Fla.

Mr. Nell, who was also named an executive vice president, reports to Stan Lybarger, president and chief executive officer.

Mr. Nell had been the corporate controller of the company since 1999. He joined $9.7 billion-asset BOK as the manager of management accounting in 1992 and became the controller of management accounting in 1996.


MIDDLE ATLANTICBNY Asset Solutions LLC, a Bank of New York Co. subsidiary, has hired Michael Cocanougher as the managing director of its real estate portfolio, which includes $8 billion of commercial-mortgage-backed securities and nonsecuritized assets.

Mr. Cocanougher was a vice president at J.E. Robert Cos., a real estate and commercial mortgage investment and asset management firm in McLean, Va., that specializes in underperforming real estate assets. He also helped establish J.E. Robert's asset management operations in Mexico.


SOUTHEASTSunTrust Banks Inc. in Atlanta has hired E. Michael Westerman as chief technology officer.

He reports to Robert C. Whitehead, executive vice president and the chief information officer.

Mr. Westerman was the interim chief information officer at Old Kent Mortgage for two years. Before that he had been an executive vice president and the chief information officer at Norwest Mortgage Inc. (now Wells Fargo Mortgage Inc.), where he worked for four years.

LaSalle Bank has named Patrick J. Kelly as the managing director of its broker-dealer services division, which is based in Boca Raton, Fla.

He had been its chief administrative officer and a senior vice president since joining the $47 billion-asset Chicago bank, a unit of the Dutch ABN Amro Bank NV, last year. In that job he had been responsible for regulatory and corporate policies, trading compliance, risk management, and business development.

In his newly created post Mr. Kelly, 43, is responsible for all aspects of the division, including profitability, strategic planning, and staffing.

Before joining LaSalle he had been the Florida president and chief executive officer at Citibank, his employer for 17 years.

LaSalle also said it had hired Karen M. Francel as the marketing manager of the broker-dealer services division. Ms. Francel, 37, was first vice president of asset advisory services at McDonald Investments Inc. in Cleveland, where she worked for 15 years.

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