First Bank System Inc., the superregional holding company based in Minneapolis, shuffled its credit card management last week following the departure of a top executive.
Fred O. Gumbel, who headed First Bank's consumer and corporate card areas since 1990, accepted a position with Electronic Data Systems Corp. of Plano, Texas. Mr. Gumbel will head EDS' electronic commerce division.
The $26 billion-asset First Bank promoted two executives to senior vice president and named another, Kathryn V. Marinello, president to fill the void.
"The growth in corporate card, merchant, and credit [businesses] has allowed us in the last four five years to really build a strong management team here," said Philip G. Heasley, vice chairman of First Bank. Mr. Heasley added that he had worked with most of the credit card executives for a number of years.
Ms. Marinello, as president of FBS Card Services Inc., will be responsible for a $3 billion portfolio of consumer credit cards and card-accessed lines of credit.
Ms. Marinello, 37, joined the corporate card department of First Bank in 199 t as a vice president and has most recently served as executive vice president and business manager for corporate cards.
Succeeding her will be James W. Baumgartner, 34, who has been named senior vice president of corporate-payment systems, which includes First Bank's business and procurement cards.
Since 1992, Mr, Baumgartner was executive vice president of the merchant bank card business.
He joined the company in 1989 as a vice president and controller for First Bank subsidiaries in the Minneapolis-St. Paul area.
John L. Busselmaier, 45, who heads agent bank and switching business including the Rocky Mountain BankCard System in Denver, will assume responsibility for the merchant-processing business.
David S. Hessney, who had served as president of FBS Card Services, has joined the company's deposit product group as senior vice president.
First Bank System Card Services and Rocky Mountain BankCard System combined are the fourth-largest Visa and Mastercard merchant processor, the ninth-largest Visa card issuer, and the largest bank issuer of corporate and procurement cards.
