NationsBank appointed William Maxwell to the new slot of president of NationsBank Capital Markets.
Mr. Maxwell is credited with playing a key role in the merger of Chicago Research and Trading Co. into the North Carolina-based company this summer.
Under the new organizational structure, announced inside the bank last week, John Burrus is responsible for the government securities primary dealership inherited from CRT and for the firm's proprietary trading business.
Rick Smith is now the senior officer in charge of other CRT functions, and will also be responsible for foreign exchange activities.
Richard Gross, who is in charge of marketing for the underwriting group as well as loan syndications, corporate finance, and specialized products research, now reports to Mr. Maxwell for market-driven activities and to William Vandiver, president of the institutional bank, for customer-driven business.
NationsBank was granted the power to underwrite corporate debt and equities in late July.
Raleigh Hortenstine, who has been in charge of sales and trading for the underwriting group, now reports to Mr. Maxwell, who was formerly head of funds management at the bank.
That post has now been taken by Steve Shock. Craig Wardlaw continues to head portfolio investment for the bank.
Natwest Taps Akelman
To Be an Executive VP
Vickie Reynolds Akelman has been named an executive vice president of the $23 billion-asset National Westminster Bancorp, Jersey City, N.J., a subsidiary of National Westminster Bank PLC, London.
She becomes one of three women to hold the title of executive vice president at Natwest.
Ms. Akelman, 39, is officer in charge of the global financial services group, which is responsible for product development and sales in trade finance and cash management, as well as domestic and international correspondent banking.
She joined Natwest 1983 as head of corporate cash management. She was named senior vice president of corporate products in 1985 and head of global financial services in 1992.
Lee M. Ruby has been named a vice president of National Westminster Bank NJ and Nina McLaughlin has joined National Westminster Bank USA as a vice president. Both banks are subsidiaries of National Westminster Bancorp.
Ms. Ruby is manager of the bank's Margate branch, with responsibilities for its business calling, office staff, and operations.
Ms. McLaughlin has responsibilities in the bank's special loan division. She was formerly with Commonwealth Bank of Australia.