Security Pacific Elects CEO Smith As Chairman, Succeeding Flamson

Robert H. Smith has been elected chairman of the board of Security Pacific Corp., succeeding Richard J. Flamson 3d.

Mr. Smith, 55, had already been chief executive officer of the $83 billion-asset corporation. He is also chairman of its lead bank, Security Pacific National of Los Angeles.

Mr. Flamson, 62, became chairman of the executive committee of the board, replacing George F. Moody, 60, who is retiring from the board.

Two Vice Chairmen Elected

Nicholas B. Binkley, 45, and Jerry A. Grundhofer, 46, were elected vice chairmen of the parent.

Mr. Binkley continues in his positions as chairman and chief executive officer of Security Pacific Financial Services System Inc., while Mr. Grundhofer continues as president and chief executive officer of Security Pacific National Bank.

Mr. Binkley also becomes a director of the holding company, joining Mr. Flamson, Mr. Smith, and Mr. Grundhofer as inside directors.

The office of the chief executive, the senior policy and planning group for the corporation, will consist of Mr. Smith, Mr. Grundhofer, and Mr. Binkley.

Liam E. McGee, 36, and Daniel B. Platt, 44, were elected vice chairmen of Security Pacific National Bank. Both Mr. McGee, who oversees the retail banking activities, and Mr. Platt, who recently joined Security Pacific Corp. as the administrator of real estate banking activities, report to Mr. Grundhofer.

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