The Federal Reserve Bank of Chicago named Arthur C. Martinez, chairman and chief executive officer of Sears, Roebuck and Co., to be chairman of its board of directors.

Mr. Martinez has been on the Chicago Fed's board since 1996 and has been its deputy chairman since 1997. He is to begin his term Jan. 1, succeeding Lester H. McKeever, who will have fulfilled his one-year commitment.

Mr. McKeever, managing partner of the Chicago accounting and consulting firm Washington, Pittman and McKeever, is to remain on the board as a Class C director.

The Chicago Fed also named Robert J. Darnall, president and CEO of Ispat North America, a steelmaker, to be deputy chairman. He has been on the board since 1997 and will begin his one-year term Jan. 1.


First Union National Bank in Charlotte, N.C., has named Samuel Schreiber president of its Washington, D.C., region, which has 101 branches and 1,200 employees.

Mr. Schreiber succeeds Hugh C. Long 3d, who has been president of the region since 1993. Mr. Long was promoted to president of First Union Georgia.

Mr. Schreiber was president of First Union's southern New Jersey region, a post he had held since 1996. He joined the bank as president of Georgia's Augusta region in 1989. Before that he had worked 14 years at Texas Commerce Bancshares.

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