NationsBank doles out new posts MNC's Bramble to be Md. 'senior executive'

June 16, 1993|By David Conn | David Conn,Staff Writer

Less than a week after MNC Financial Inc.'s shareholders approved its sale to NationsBank Corp., the buyer announced who will run its show in the mid-Atlantic region.

That job will go to J. Harold Chandler, who heads NationsBank's Metro D.C. operations -- not Frank P. Bramble Sr., the president and chief executive of MNC.

Mr. Bramble, who will be named chairman of NationsBank Maryland, has been tapped for bigger things, the company said.

Once the merger is completed, probably in late September, Mr. Chandler will be president of the newly created Mid-Atlantic Banking Group, which includes the banking operations in Maryland, Washington and Northern Virginia, the company said. His offices will be in both Baltimore and Washington.

Mr. Bramble, 44, will run a nationwide profitability effort for all of NationsBank's banking and related financial services groups, a job that will take him from Baltimore, through the District of Columbia and into the eight other states in which NationsBank operates.

He will also be named "senior banking executive" in Maryland, which means Mr. Bramble will be the company's top representative to the public and to various customer groups in the state, though he won't have responsibility for the daily operations of the bank in Maryland.

"Where teamwork is required, where a sense of community is needed, that's what the senior banking executive does," said Kenneth D. Lewis, president of NationsBank's General Bank, which includes the company's retail and small- to mid-sized business banking operations.

Susan C. Keating, MNC's executive vice president in charge of the company's Regional Bank, has been named president of NationsBank Maryland, reporting to Mr. Chandler.

And Walter Fatzinger, who has been president of MNC subsidiaries American Security Bank and Security Trust Co., will be president of NationsBank D.C. He will report to David Fisher, the company's national Personal Trust Executive. MNC's other primary subsidiary is Maryland National Bank.

NationsBank has not named senior banking executives in the district or Northern Virginia.

Mr. Chandler will continue to report to Mr. Lewis.

Mr. Bramble also will report to Mr. Lewis and will lead a team overseeing the merger of the two banking companies, according to Mr. Lewis, who said the consolidation should be completed within one year, assuming the necessary regulatory approvals are achieved.

When the merger is finished, the combined company will have about $7.1 billion in deposits in the Baltimore metropolitan area and $10.5 billion in the Washington area. Overall, NationsBank will have about $138 billion in assets.

"We began to look at the performance of MNC and how well it had turned around, and that has a lot to do with Frank Bramble's leadership, and the tremendous effort of all the people there, due to his leadership," Mr. Lewis said yesterday in an telephone interview from his office in Atlanta.

"Then I started talking to Frank about my frustrations about measurement systems and drivers of performance," Mr. Lewis explained. The upshot, he said, was that the two men decided to use Mr. Bramble's talents to find ways to make the company more profitable.

"It's a huge job," Mr. Lewis said. "It crosses huge geography -- all the states in which we operate, and the mortgage corporation, credit card, et cetera, et cetera." It also includes the company's retail finance, insurance, dealer finance and specialty financial products.

Some financial analysts have expressed one major concern about NationsBank: its ability to run a bank profitably, rather than grow by acquisitions. NationsBank has grown into the country's fifth-largest banking company through a series of purchases, the largest of which were in Virginia, Georgia, Florida, Texas -- and now Maryland.

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