NCNB, Sovran Announce Shifts

NCNB Corp. and C&S/Sovran Corp. announced plans to consolidate automobile dealer finance operations in Greensboro, N.C., and credit card and consumer loan servicing in Norfolk, Va.

The moves are to help implement their scheduled Dec. 31 merger, which is to form a new company, NationsBank.

More Jobs for Greensboro

G. Patrick Phillips, president of NationsBank Financial Products, said the number of jobs at Greensboro operations will increase even though credit card workers will move.

Although some of the moves will occur in the second half, verbal notice to employees will begin immediately, Mr. Phillips said.

"We realize they need as much advance notice as possible," he said. "It is our policy to tell people about changes as soon as we determine they will be affected. We realize they need as much advance notice as possible."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.