RTC Is Replacing Chief in California

LOS ANGELES -- J. Michael Berry, director of the Resolution Trust Corp.'s office in Costa Mesa, Calif., is being replaced with a new director.

A candidate has been proposed to Washington but has not yet been confirmed. The name of the new director, the fourth in 14 months, will not be announced for several weeks.

"A substantial expansion" is planned for the southern California office, which currently has 330 employees, according to an RTC spokesman.

He declined to say how many employees might be added, but said the office expects to have substantially more assets under management as more thrifts fail.

It handles failed thrifts and their assets in California and Hawaii.

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.