BankAmerica Corp. executives are winning out over their Security Pacific Corp. counterparts in key technology-unit appointments at what will be the merged institution.
That was expected once Marty Stein, a Bank of America executive vice president, won the top computer operations post in the new organization. Bank of America announced Aug. 12 that it would merge with Security Pacific, forming a $190 billion-asset banking company with headquarters in San Francisco.
Updated Merger Appointments
Bruce Faden, head of Bank of America's retail and corporate automation, will head retail automation services at the merged bank, according to a recent merger update newsletter for employees of Security Pacific, Los Angeles. Bill Ott will continue as head of BankAmerica's wholesale automation services.
Ianne McCrea, now head of commercial and corporate systems for Security Pacific's Automation Co., will be responsible for the merged bank's corporate systems. Bill Chenevich, who now heads Security Pacific Automation Co., will run a division called technology and telecommunications.
Reporting to Bank of America's Stein
Dave Lynch, head of Bank of America's field services, will keep that post. Alan Koch, head of Bank America Systems Engineering Financial Services, will be in charge of finance for the computer operations unit.
All six executives will report to Mr. Stein.
In another technology-intensive area, Mike Caggiano, who runs Security Pacific's Sequor Group, a securities processing unit, ill head the new company's securities processing and corporate trust. He will report to Nick Binkley, who, it was previously announced, will become a vice chairman and head of the division that includes consumer and commercial finance as well as other nonbanking activities.