1st Md. elevates Susan Keating Executive, 48, named president, chief operating officer

Banking

December 18, 1998|By Bill Atkinson | Bill Atkinson,SUN STAFF

First Maryland Bancorp yesterday named Susan C. Keating president and chief operating officer of the company and its largest subsidiary, First National Bank of Maryland.

Keating, 48, will oversee the $17.3 billion-asset company's corporate, retail, trust and investment-management businesses. She will also be responsible for marketing, operations and information technology as well as about 6,000 employees.

"Susan was the clear choice," said Frank P. Bramble, First Maryland's president and chief executive. "She is the most qualified person to help me lead this company into the next century."

Bramble will cede his job as president to Keating on Jan. 11 to focus on newly expanded responsibilities. In October, he was named chief executive of Allied Irish PLC's USA division, and he took a seat on the Dublin, Ireland-based parent company's board of directors.

Bramble will spend a week each month in Ireland, direct First Maryland's overall strategy and spend more time with customers, he said. He will also work to identify merger and acquisition targets.

Keating and several other top executives at First Maryland will report to him. "I will have plenty to do here," Bramble said.

Keating will move to First Maryland's downtown Baltimore headquarters from Harrisburg, where she has been president and chief executive of the company's Pennsylvania subsidiary, Dauphin Deposit Bank, and the York Bank.

Keating began running the Pennsylvania operations in June 1997. Those operations have assets of about $7 billion. She has TTC also been running First Maryland's retail operations, which includes a $3 billion consumer loan portfolio.

"She has done a terrific job," Bramble said. "We have retained the employee base there; we have grown the business; and we will be bringing her back to Baltimore now to run the business on a day-to-day basis."

Keating, who has been a banker for 25 years, joined First Maryland in January 1996 as the retail executive for Maryland, Pennsylvania, Virginia and the District of Columbia. Before that, she was president of NationsBank Corp.'s Maryland operation, but left after "differences in management philosophy" with her boss, R. Eugene Taylor, who today is president of Bank of America's west region, after its merger with NationsBank.

Although she will retain an office in Harrisburg, Keating will be replaced as head of the Pennsylvania operations by Paul Shannon.

First Maryland also promoted Jerome W. Evans to vice chairman of the company. Evans, who is chief financial officer, will be responsible for all financial, treasury and administrative activities, including human resources.

Pub Date: 12/18/98

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