Magazine article American Banker

Banc One Taps Its Texas Chief to Run Commercial Banking

Magazine article American Banker

Banc One Taps Its Texas Chief to Run Commercial Banking

Article excerpt

Banc One Corp. is counting on a Dallas banker who started and guided a bank through the roughest economic times in Texas to build up its own commercial business.

Ronald G. Steinhart, the newly named chairman and chief executive of Banc One's national commercial banking group, said his charge is to "substantially increase profitability" at the operation.

Mr. Steinhart, who was chief executive of Banc One Texas, said the commercial banking group will remain focused on lending to midsize businesses.

But Banc One will also use the commercial bank to bolster its noninterest income, which has come primarily from servicing retail products.

Mr. Steinhart said Banc One, which has $98.6 billion of assets, is also making a greater push into areas such as international banking and cash management.

Banc One's strategy is to sell more products to midsize businesses in markets where it has a retail presence. While Mr. Steinhart will oversee all of Banc One's markets, particular attention will be paid to growth areas like Denver, Phoenix, Salt Lake City, Chicago, and Texas, he said.

"How do we better penetrate markets, and how do we become more profitable? That's the focus going forward," he added.

Mr. Steinhart's promotion should wrap up Banc One's effort to form a centralized operating system organized around lines of business. Mr. Steinhart, 56, joins Kenneth T. Stevens, who heads the retail bank group, and David Kundert, who heads the trust group, in the upper ranks of the restructured bank. …

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