Signet selects software for bank credit analysis
There may be some things that a computer will never be able to do: caress a newborn child, hit a Charlie Hough knuckleball, write a finely crafted newspaper column. But performing bank credit analysis, that's easy.
Richmond-based Signet Banking Corp. this month finished a four-month search by choosing and installing a credit analysis software program developed by Crowe Chizek, an Indiana accounting and consulting firm.
The Financial Analyst's Management & Authoring System (FAMAS, naturally) will allow Signet's commercial lenders and analysts to integrate all financial information about a borrower within one simple format, the bank says.
The program also comes with Crowe Chizek's patented FAMAS Consultant, which prints narrative reports on current and prospective borrowers, based on their financial data, and even suggests a series of pointed questions to ask the clients, according to Kem Dziatczak, a software consultant in Crowe Chizek's software products group.
One thing's for sure: This'll make it a heckuva lot easier to make that 3 p.m. tee-off.
MNC, NationsBank transition team named
The team that will help turn MNC Financial Inc. into a different bank is shaping up. Kenneth D. Lewis, president of NationsBank Corp.'s General Banking division, outlined the leaders of the transition team in an April 5 memo to MNC and NationsBank employees.
MNC's president and chief executive, Frank Bramble, "will be responsible for planning and implementing the merger of MNC into NationsBank," Mr. Lewis wrote. He'll work with Harold Chandler, head of NationsBank Metro, which includes the company's Washington, Virginia and Maryland operations, and with Randy McElroy, president of NationsBank Virginia.
But the real transition work will be done by NationsBank's ace merger whiz, Executive Vice President Harris "Rusty" Rainey Jr., who reports to Mr. Bramble. Mr. Rainey, a 24-year veteran of NationsBank, has managed every major bank consolidation for the company since 1985, starting with Bankers Trust in South Carolina, moving on to 1985's Pan American Banks in Florida, then First Republic Bank in Texas three years later, and the C&S/Sovran merger in 1991.
"It's just one of those things I've fallen into, and I can't seem to get out of," Mr. Rainey said with a laugh.
He said he'll be spending a few days a week in Baltimore. Working here full time is Grant Cole, who will run the day-to-day operations of the consolidation.
Also on the list, according to Mr. Lewis's memo, are Sunil Antani, who heads corporate operations and information systems at MNC; Bob Large, NationsBank's customer account services *T chief in the Mid-Atlantic; MNC's Susan Keating, who will serve as liaison between the operational teams and the customers; and Wells Stanwick, who helped coordinate MNC's merger with Equitable Bancorporation in 1987.
Former MNC executive finds life continues
There is life after MNC. Just ask J. Marshall Reid -- Mike to his friends.
Mr. Reid, who spent nearly 22 years at the banking company, was executive vice president for the Baltimore wholesale division of subsidiary Maryland National Bank. He was in charge of LTC lending to companies with $5 million in sales and up, including a few specialty areas, such as health care and media.
When MNC decided to restructure its commercial and retail banking operations into one mega-division called Regional Banking in January, Mr. Reid was considered for the job of heading the division, he and others in the company say.
"I lost my position there, I suppose, to Susan Keating when they consolidated the divisions," Mr. Reid said this week, referring to the executive vice president who now heads Regional Banking.
Mr. Reid, and several other top-ranking executives, were severed from MNC on Feb. 1. On March 15 he joined Mercantile-Safe Deposit & Trust Co. as a senior vice president. His new focus is companies with at least $30 million in sales, although he won't ignore the smaller companies with whom he had a relationship at MNC.
Though he won't say he's free of bitterness, Mr. Reid said that MNC Chief Executive Frank Bramble and Maryland National Bank "have been very fair with my departure."
Urban Bankers group plans regional meeting
* The National Association of Urban Bankers, a 19-year-old organization of minority financial services professionals, is holding its Eastern Regional Conference in Baltimore tomorrow through Saturday at the Marriott Inner Harbor Hotel. Sponsored by the Maryland Association of Urban Bankers, the conference features speeches by Rep. Kweisi Mfume, D-Md., MNC's Frank Bramble, and Joseph Haskins, chairman of Harbor Bank of Maryland. Seminar topics include the Home Mortgage Disclosure Act, cultural diversity and the responsibilities of black bank board members.
* David Yuen, who managed Franklin Advisers Inc.'s $4.8 billion Franklin Adjustable U.S. Government Securities Fund, is moving Alex. Brown Inc.'s Menlo Park, Calif., office to head research and strategy in mortgage derivatives. He joins several recent hires from Bear Stearns and Smith Barney in Alex. Brown's growing mortgage-backed and fixed-income division.