RICHMOND, Va. - The Signet Mortgage unit of Signet Banking Corp. has named John Plum vice president and officer in charge of secondary marketing.

He will be responsible for risk management, portfolio sales, and trading. He is also expected to help Signet expand its investor pool and handle investor relations for the unit.

Mr. Plum was formerly vice president and director of secondary marketing for Hammond Co., Newport Beach, Calif., where he was responsible for securitization of $80 million to $100 million of mortgages a month. The company's servicing portfolio nearly doubled during Mr. Plum's three-year tenure.

Signet Mortgage has 29 retail offices in Maryland, Virginia, North Carolina, Washington, D.C., and Tennessee.

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