Guardian Mortgage has named a Bank of America executive to succeed Marcia Phillips as chief executive.

The Dallas company last week hired Russell Anderson as president and CEO. Anderson had been a senior vice president at B of A. He also previously worked for First Union National Bank and Wells Fargo.

Phillips, who had been president and CEO of Guardian since 1988, retired from those positions and will serve as vice chairman.

Guardian is a unit of the $2 billion-asset Strategic Growth Bancorp in El Paso, Texas. Strategic Growth Bancorp is also the holding company for Capital Bank in El Paso, Tex., First National Denver, First National Santa Fe and First National Rio Grande.

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