Magazine article American Banker

European American Names Brendan Dugan President

Magazine article American Banker

European American Names Brendan Dugan President

Article excerpt

Nearly three decades after he started out as a banking trainee at the old Franklin National Bank, Brendan J. Dugan has been named president and chief operating officer of its successor, European American Bank.

Mr. Dugan, 48, rejoined European American in 1992 as executive vice president in charge of corporate banking. He succeeds Edward Travaglianti, who was named chairman and chief executive of European American in July.

From 1989 to 1992, before he rejoined EAB, Mr. Dugan served as president of National Westminster Bank USA.

His latest appointment caps several years of reorganization at European American, which has gradually reemerged as a full-fledged banking unit.

Based in Uniondale, N.Y., European American was acquired in 1990 by Amsterdam-based ABN Amro from a consortium of European banks after running into severe real estate and Third World lending problems in the late 1980s.

As part of the reorganization, European American transferred some $700 million in bad loans to its parent company and refocused on building consumer and middle-market lending on Long Island and in New York City. The bank also combined its back-office processing with LaSalle National Bank, the Chicago-based retail banking unit of ABN Amro.

Since 1992, assets have climbed nearly 60% to $7.6 billion and profits have rebounded. The bank earned $58.6 million for the first half of this year, up 44% over a year earlier.

"We've been reengineered," Mr. Dugan said. "And this time around, we'll be sticking to our knitting. …

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