National City Corp. of Cleveland has named Michael J. Minnaugh as head of its institutional trust business, a newly created post.
Mr. Minnaugh had been a senior vice president in National City Bank's trust department since 1994. He is now a senior vice president of the holding company as well.
In his new job he is responsible for sales, marketing, and maintenance of corporate and nonprofit customers. He also oversees investment management and retirement plan services for the holding company's National City Investment Management Co., reporting to the unit's president, Robert Leggett.
Mr. Minnaugh joined National City Corp. in 1991 as a vice president of corporate planning. The next year he became controller of the bank, where he retains responsibility for charitable and endowment services.
Meanwhile, National City Investment Management promoted Timothy McDonough to director of client services. He will oversee six portfolio managers and the unit's performance measurement group.
Mr. McDonough came to National City in early 1997 as a vice president-he retains that title-and portfolio manager in the charitable and endowment group. Most recently he managed fixed-income investment portfolios.