Thomas J. Stecher, executive vice president and cashier of Hawkeye Bank in Dubuque, Iowa, has been named acting chairman of the National Automated Clearing House Association following the unexpected departure of Sam S. Cerverizzo.

Mr. Stecher served as vice chairman under Mr. Cerverizzo, formerly a senior vice president with Chemical Banking Corp. A spokesperson at the New York bank said Mr. Cerverizzo had recently resigned from the bank "to pursue other interests," although several sources said Mr. Cerverizzo had fallen victim to Chemical's downsizing efforts. Mr. Cerverizzo could not be reached for comment.

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.