A Manufacturers Hanover Corp. executive will be in charge of securities trading when Chemical Banking Corp. and Manufacturers merge late this year, the two banks announced yesterday.
Paul H. Dimmick, 44, currently president of Manufacturers Hanover Securities Corp., will lead the Section 20 subsidiary of the combined bank.
In his new position, he will oversee the merged bank's primary dealership in U.S. Treasury securities as well as its operations in municipal, mortgage- and asset-backed securities and commercial paper. He will also be responsible for overseas securities trading and distribution.
Mr. Dimmick will report to Petros Sabatacakis, head of capital markets and Treasury operations for the merged bank.