Mercantile announces top-level changes Malcolm Wilson is named to head trust division

Banking

September 12, 1997|By Bill Atkinson | Bill Atkinson,SUN STAFF

Mercantile Bankshares Corp. has made several top-level promotions, the company's chairman said yesterday.

Malcolm "Skip" Wilson was named head of the company's trust division, said H. Furlong Baldwin, chairman and chief executive of the banking company with $6.8 billion in assets.

Malcolm Wilson takes over for Jay M. Wilson, no relation, who is leaving the company after about three years on the job to manage family businesses, Baldwin said.

Mercantile also promoted Kenneth A. Bourne to run its banking division, which oversees operations that include lending and deposit gathering and is responsible for a large portion of the company's profits.

Bourne takes over for J. Marshall Reid, who was named president and chief operating officer of Mercantile-Safe Deposit and Trust Co. Tuesday. Reid replaced Edward K. Dunn, who stepped down as president of the company and president and chief operating officer of Mercantile's flagship bank. Baldwin said Bourne is a longtime bank veteran.

"He was the top credit officer of the lead bank. He did the tour of duty running the affiliate banks for a while, and he was the first chief financial officer," he said.

David R. Bowen, senior vice president, will head Mercantile's asset lending department, which Bourne vacates.

Malcolm Wilson joined Mercantile in 1996 and was named executive vice president of the personal investment management and trust group. He will now run Mercantile's trust division, which had assets under administration of $27 billion at the end of 1996. He is "well trained" with 25 years of experience, Baldwin said.

Malcolm Wilson was in charge of the investment management and trust division for PNC Bank in Philadelphia before joining Mercantile.

From 1971 to 1988, he was at Provident National Bank, since renamed PNC, where he was promoted to chief investment officer and director of economic and investment research of the trust division.

Baldwin said Jay Wilson had been talking about resigning for months because he wanted to manage family businesses.

"By mutual agreement he will continue as executive vice president to the end of the calendar year," he said. Jay Wilson couldn't be reached for comment.

Prior to joining Mercantile, he was president and chief executive of Steeltin Can Corp., a family-owned can maker in Baltimore, which was sold to U.S. Can Corp.

He was a director of Mercantile from 1989 to 1994, and he was president of the board of directors for the Walters Art Gallery.

Mercantile named James D. Witty, vice president in corporate banking, as head of corporate banking's metropolitan Washington group.

Also appointed were: Charles E. Siegmann, executive vice president of the operations division; David C. Tait, special project manager for phase 2 of the D3000 conversion; and Vice President Hal E. Hamil Jr., who is director of human resources, will report to Alan D. Yarbo, Mercantile's general counsel.

Pub Date: 9/12/97

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