Advanta Corp., Spring Hill, Pa., announced the resignation late Monday of its president and chief operating officer, Richard A. Greenawalt, and his replacement by Visa executive vice president David A. Brooks.
The moves are to take effect this month.
Mr. Greenawalt, 53, after nine years at Advanta, will become chief executive officer of Olympic Financial, a Minneapolis-based auto lender.
Mr. Brooks, 57, spent the last three years heading member relations and several other functions for Visa U.S.A. as a key member of president Carl Pascarella's management team. He previously worked at Citicorp, Crocker National Corp., and First Chicago Corp.
Mr. Greenawalt found himself in the awkward position of serving as a director of MasterCard International while Advanta was being sued by MasterCard over a comarketing program with American Express Co. The companies face a Jan. 22 deadline to settle their differences or go to court.