United Companies Financial Corp. announced that chief operating officer John D. Dienes retired on Dec. 1.

Mr. Dienes was the organizational leader for two subsidiaries United Cos. closed in October as part of a restructuring effort. The company has not announced plans to fill his position.

Mr. Dienes joined the subprime lender in 1994 after 30 years as a banker, most recently as chief of corporate banking at NationsBank. He will be 57 on Dec. 11, a company spokeswoman said.

United Cos. said on Oct. 28 that it could not find a buyer and that it would shutter several business units and lay off over 1,000 employees.

The company, like many of its peers, has suffered from a liquidity crunch in the past twelve months.

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