William DuMond, senior vice president at Marine Midland Bank, is board chairman of Participants Trust Co., New York.
Marine Midland, based in Buffalo, is a subsidiary of HSBC Holdings Inc. Participants Trust is a limited-purpose trust company owned by 34 big financial companies.
Mr. DuMond replaced Scott Abbey as Participants' chairman. Mr. Abbey, managing director at Morgan Stanley & Co., remains a director of the trust company.
Mark Alexander, first vice president and director of debt markets operations at Merrill Lynch, has been named Participants' vice chairman.
New board members are Mary Cirillo, senior vice president at Citibank; Michael Sullivan, managing director, capital markets services division, at PaineWebber Inc.; and Edward Van Valen, senior vice president at Chase Manhattan Bank.