Richard D. Parsons, chairman and chief executive of Dime Savings Bank, was named head of the transition team for the newly elected mayor of New York City.

Mr. Parsons, a prominent figure in New York banking and political circles, will be responsible for helping Mayor-elect Rudolph Giuliani fill key positions in city government.

"My focus is to make sure we have strong outreach into the talent pool, not just in the city but nationally," said Mr. Parsons.

Term of Appointment

Mr. Parsons, a former law partner of Mr. Giuliani's and an aide to the late Nelson A. Rockefeller, said he would also assist the mayor-elect in meeting his goal to include more women and minorities in city government.

"His government has to reflect the diversity of the governed," said Mr. Parsons.

The appointment will last several months. Mr. Giuliani takes office Jan. 1. Mr. Parsons said he doesn't plan to take a permanent position within the new city administration.

Return to Profitability

"I still have work to do in getting Dime to where we want to be," said Mr. Parsons.

The bank was devastated by losses in its mortgage business stemming from poor underwriting standards in the late 1980s.

Mr. Parsons, who was an outside legal adviser to the bank, became its chairman and chief executive in 1990. He was brought on board as president in 1988 to clean up the problems. The bank has since returned to profitability.

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.