Charter One Financial Inc. named Richard D. Powers chief executive officer of its Charter One Mortgage Corp. subsidiary.

Paul J. Bailey will be the unit's chief operating officer.

Mr. Powers is a senior vice president of residential lending at Charter One Bank. He has worked at the thrift since 1994. Before that, he was a first vice president at Great Western Bank, Chatsworth, Calif.

Mr. Bailey was executive vice president, loan administration, at American Home Funding Inc. Charter One bought the Richmond, Va., mortgage bank this month and renamed it Charter One Mortgage.

Mr. Bailey had worked for Rochester Community Savings Bank-American's former parent-since 1977.

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