Crestar Financial Corp. named its president, James M. Wells 3d, to the newly created post of chief operating officer as well.
Mr. Wells, 50, has overseen consumer and commercial banking business, including consumer finance, mortgage banking, and investment management. Richard G. Tilghman, chairman and CEO, said Mr. Wells would assume additional responsibilities in sales and marketing, technology, and operations.
Mr. Wells joined Crestar's predecessor, United Virginia Bank of Richmond in 1968 as a management trainee. Rising through the executive ranks, and taking key executive roles in commercial banking and corporate services, Mr. Wells had been named Crestar's president in 1988.
Crestar Financial is a $23 billion-asset bank holding company.