December 21, 1988
Darell W. Choate has been named executive vice president in charge of Security Pacific National Bank's 560-branch retail banking network in California. Choate, 48, joined the Los Angeles-based bank in 1969 as a management trainee. Most recently, he was a senior vice president in charge of one of its five geographic divisions in the state. He will report to Jerry A. Grundhofer, a bank vice chairman.
May 13, 1993 |
Former BankAmerica Executive Moves East: Former BankAmerica Vice Chairman Jerry A. Grundhofer, 48, has been named president and chief executive of Star Banc Corp. of Cincinnati, a $7.5-billion-asset bank holding company for nine banking subsidiaries that operate 195 branches in Ohio, Kentucky and Indiana. Grundhofer resigned as a vice chairman of BankAmerica Corp. in March. He was formerly president and chief executive of the 600-branch Security Pacific National Bank.
March 17, 2009 |
Citigroup Inc. has nominated four new independent directors to its board in the latest move to toughen up the bank's oversight. The four will be up for election at the annual shareholders meeting in April. Citigroup's board has been widely criticized for allowing bank executives to make risky investments in the housing market and not having enough financial services experience. The candidates are Jerry A. Grundhofer, former chairman and chief executive of U.S. Bancorp; Michael O'Neill, former chairman and CEO of Bank of Hawaii; Anthony M. Santomero, a senior advisor at McKinsey & Co. and former president of the Federal Reserve Bank of Philadelphia; and William S. Thompson Jr., former CEO of bond fund giant Pimco.
July 20, 1991 |
Security Pacific Corp., signaling that it is back in the hunt for large failed thrifts, late Friday said it paid $35 million for the last major one available in Arizona: Southwest Savings & Loan in Phoenix. The Los Angeles-based banking firm gets $1.4 billion in deposits and 47 branches from the Resolution Trust Corp. under the deal.
September 22, 1990 |
Security Pacific Corp. said Friday that it has acquired the 24 branches and some of the assets of Mercury Savings & Loan, the insolvent thrift based in Huntington Beach that was seized earlier this year by federal regulators. The Los Angeles-based bank holding company paid $44.4 million to acquire $1.4 billion of Mercury's deposits, $330 million of its assets and its offices--including five branches in Orange County and 12 in Los Angeles. The Resolution Trust Corp. retains $1.