The president of a high-profile holding company and its thrift left his job abruptly this week as a result of restructuring efforts.

A spokesman for $2.7 billion-asset BankAtlantic Bancorp. and subsidiary BankAtlantic said that chairman and chief executive Alan B. Levan has succeeded John P. O'Neill. Mr. O'Neill had been president since 1991.

David Finkelman, BankAtlantic Bancorp. senior vice president of corporate communications, said Mr. O'Neill left on good terms.

"It was felt it would be to the best advantage to John O'Neill and BankAtlantic that John leave the bank," Mr. Finkelman said.

He said the company is undergoing a reorganization that could affect other employees.

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.