Magazine article American Banker

Loss of Plechaty Thins Top Ranks at Continental

Magazine article American Banker

Loss of Plechaty Thins Top Ranks at Continental

Article excerpt

CHICAGO -- The ranks of senior management at Continental Illinois National Bank and Trust Co. have been thinned by the departure of executive vice president and auditor William D. Plechaty. He is the highest ranking officer to leave since the Federal Deposit Insurance Co. rescued the bank earlier this year.

Mr. Plechaty insists his departure is not a defection. "It has not absolutely nothing to do with the management change," he said. "And I wouldn't want anyone to suggest it's [got something] to do with Continental's problems," he said.

A change in Continental's top management was ordered by the FDIC, with John E. Swearingen named chairman of the holding company, Continental Illinois Corp., and William S. Ogden named chairman of the bank.

Mr. Plechaty joined Continental in 1963 as a methods analyst. He was the bank's auditor from 1970 to 1972, and then headed the personal banking department. In 1982, he became auditor again and later was named executive vice president. At one stage he also managed the bank's credit card program, which he helped launch.

"Continental has been a very wonderful place for me and I have only positive feelings about it," he said.

On Monday, Mr. Plechaty began his new job as executive vice president and chief financial officer of Southeast Banking Corp. and southeast Bank NA of Miami. He will supervise Southeast's operations group, asset/liability management, finance division, and the company's venture capital subsidiary, Southeast Venture Capital Limited Partnership Funds. …

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