The anticipated executive-level changes at First Maryland Bancorp, where new chief executive officer Frank P. Bramble Sr. is beginning to remake the $10 billion institution, are under way.
The first of those arrived last week with the retirement of Joseph E. Peters and William T. Murray III, two of five executive vice presidents at First Maryland, which owns the state's second largest bank, First National Bank of Maryland.
Mr. Peters, 56, has overseen the bank's branch system, including retail and commercial lending, real estate, and the credit card and mortgage subsidiaries.
The memo announcing his and Mr. Murray's departure doesn't explain their reasons.
"With more than 30 years of dedicated service, each has made valuable contributions to the development of First Maryland, for which we are grateful," is all it says.
Mr. Peters' explanation for his departure? "I'm retiring. I'm eligible. Fortunately I can do that."
Mr. Murray, 63, was in charge of the trust department, and some of the technical operations areas.
He did not return several calls.
As for rumors that former MNC executive Walter R. Fatzinger Jr. will join the company next week, First Maryland Chief of Staff Ronald C. McGuirk said he had no knowledge of that. Mr. Fatzinger worked at First National before joining MNC.
"Walter is a highly respected executive in the trust area," Mr. McGuirk added, "and any bank, in my personal opinion, would be lucky to have him."
More executive level announcements are expected soon, bank insiders said.