Investors expect a change in management style at First Union Corp. as G. Kennedy Thompson succeeds Edward E. Crutchfield, who on Friday stepped down for health reasons as chief executive officer of the No. 6 U.S. banking company.

Mr. Thompson, 48, is known as a solid banker with a penchant for analysis and a hands-on approach to management - a marked contrast to that of Mr. Crutchfield, 58, who was known to some as "Fast Eddie" for his flashy style and many acquisitions.

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