Compass Bank of Birmingham, Ala., has and hired Mellon executive Lee Cutrone as president of its Houston market.

Mr. Cutrone was head of institutional banking at Mellon Bank. Earlier he was head of corporate banking for ABN Amro's London office.

Still earlier he worked 17 years at PNC Bank in Pittsburgh as head of its multinational and international banking divisions.

At the Compass Bancshares unit he succeeded John Cater, who will now be chairman of the Houston market.

Mr. Cater had been its president since 1992.

Compass Bank it has $17.7 billion of assets.


The Rhode Island Bankers Association has elected D. Faye Sanders, its secretary for the past year, as president.Ms. Sanders is director of government affairs and a senior vice president at $22 billion-asset Citizens Financial Group Inc. in Providence. She joined the company, which owns Citizens Bank, in 1978.

In the trade group presidency she succeeded Joseph E. LaPlume, former president and chief executive officer of Narragansett-based PierBank.


Dime Savings Bank of New York has hired Edmund T. Valenski as senior vice president in charge of distribution, a newly created post.Mr. Valenski is in charge of telephone, on-line, and ATM delivery for the Dime Bancorp unit, as well as bank-wide channel planning.

He will report to Peyton Patterson, executive vice president for consumer financial services.

Mr. Valenski came from Chase Manhattan Bank, where he was a senior vice president and consumer services call-center executive.

Before joining Chase 12 years ago he was a product manager at Merrill Lynch. Still earlier he was a financial manager at Revlon and at Deloitte & Touche.

Dime Savings Bank has $22.5 billion of assets.


Hibernia National Bank in New Orleans has promoted David Blasini, Deborah Fontenot, Hilda Gonzales, and Teresa Hooker to assistant vice presidencies.Mr. Blasini will be a relationship manager for public funds in southeast Louisiana. He was a public funds officer. He joined the bank in 1988.

Ms. Fontenot will be an assets manager for southeast Louisiana. She was a banking officer.

She joined the bank in 1988 and has 17 years of banking experience. Ms. Gonzales will be an international private banker. She was an international banking officer. She joined Hibernia in 1989.

Ms. Hooker will be a processor for international wires, foreign check collections, and foreign exchange functions. She was an international banking officer. She joined the bank in 1979 and has 20 years of banking experience.

The Hibernia Corp. unit has $15 billion of assets.


U.S. Trust Company NA of Los Angeles, a unit of New York-based U.S. Trust Corp., has hired Jeffrey T. Grubb as a managing director and head of its Pacific Northwest operations in Portland, Ore.Mr. Grubb was an executive vice president and manager of private financial services at U.S. Bank in Portland.

Earlier he was chairman and chief executive officer of U.S. Bancorp's Qualivest fund subsidiary. Before that he was president of U.S. Bancorp Insurance Co.

In his new job he will be responsible for U.S. Trust's wealth management business in Portland as well as the company's future expansion into the Pacific Northwest.

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