National Commerce Realignment Puts Focus on Nonbank Businesses
Cline, Kenneth, American Banker
A recent series of executive changes at Memphis-based National Commerce Bancorp. will elevate the stature of the company's nonbank subsidiary businesses, analysts and observers said.
According to Thomas M. Garrott, chairman of the $3.4 billion-asset bank, the personnel moves last week were "the continuation of a long-term plan that clearly defines our corporate strategies and realigns the organization along functional lines."
The promotions went to William R. Reed Jr. and Lewis E. Holland, who became executive vice presidents of the holding company; Gus B. Denton, who became its corporate secretary; and Mackie H. Gober, who was made president of National Bank of Commerce.
Mr. Reed, 49, previously vice chairman of the Memphis bank, will oversee all of National Commerce's traditional banking operations, as well as its supermarket branches. Mr. Holland, 52, who was the bank's chief financial officer, will hold that title at the holding company while supervising all nonbank operations, including consumer finance, consulting, and investment advising. …