Robert Holmes to Resign as President of Great Western Financial Corp

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Robert Holmes to Resign as President Of Great Western Financial Corp.

Highly Regarded Executive Plans to Seek Top Position Elsewhere

Robert B. Holmes, who has been president of Great Western Financial Corp. for less than a year, will resign the No. 2 post at the Beverly Hills, Calif., thrift holding company to seek the top spot at another company.

Mr. Holmes, 54, was president and chief executive officer of Aristar Inc., a consumer finance and life insurance company that was acquired by Great Western in 1983.

He stayed on as head of Aristar after it became a Great Western subsidiary and was named to Great Western's office of the president in May 1984. He became president, chief operating officer, and a director of the $25 billionasset company in October 1985.

Great Western's top management spot is held by chairman and chief executive officer James F. Montgomery, considered to be one of the heavyweights in the thrift industry. But with Mr. Montgomery firmly in control of Great Western, Mr. Holmes indicated a desire to run his own firm.

"Following an extended review of my thinking with ny good friend Jim Montgomery, I have decided that I would like one more chance to run a company on my own and have elected to take the plunge,' Mr. Holmes said in a statement. …