American Banker articles from October 2006

American Banker archives from October 2006

Resistance to Image-ACH Diversifies.
October 2, 2006... As bankers, vendors, and industry watchers gather this week to discuss a proposed converged payments system that would use both image exchange networks and the automated clearing house, a variety of opinions is starting to emerge. Some...

Deposit Fight Highlights 3Q Outlook In Northeast.
October 2, 2006... The Northeast is considered one of the most attractive banking markets, but when banking companies based there report third-quarter earnings this month, they will be dealing with the same fundamental issues as those elsewhere, as well as some...

Agencies Reject Calls for Freer Rein on Exotic Loans.
October 2, 2006... WASHINGTON -- Federal banking regulators rejected pressure by the industry to dial back new disclosure and underwriting requirements for alternative mortgage products, releasing final guidelines essentially unchanged from the initial proposal...

Amalgamated Growth Plan: Court Big-City Underbanked.
October 2, 2006... Amalgamated Bank in New York says it is eyeing expansion into neighborhoods where other banks are not. Calling Manhattan "way overbanked," Derrick D. Cephas, the $4.2 billion-asset bank's president and chief executive officer, said last...

Lack of Web Accounts Seen Hurting Regionals.
October 2, 2006... The failure by some regional banking companies to offer high-yield online deposit accounts will hurt their profitability and could force some to rein in branch-building efforts, a report finds. Regional companies have been left behind as a...

Executive Changes.
October 2, 2006... SOUTHEAST Wachovia Corp. of Charlotte announced a new leadership structure for its retail and commercial banking groups as part of its anticipated purchase Golden West Financial Corp. Kathryn Dinkin, Jim Foley, Michelle Lee, and George...

Washington People.(Rep. Barney Frank's opinion about political campaigns)(Karl Kaufmann planning to rais money for the Leukemia and Lymphoma Society's Team in Training)(Connecticut Banking Commissioner John P. Burke, retired)
October 2, 2006... Political Lies Candidates all across America this fall are sporting big smiles, shaking hands, and saying how great it is to be on the campaign trail. Don't believe them, Rep. Barney Frank told executives recently in a speech to the...

First Niagara Builds Fees From Insurance, Benefits.
October 2, 2006... First Niagara Financial Group is finding success in the slow-growth upstate New York insurance and employee-benefit market by offering business customers deep and broad relationships. The Lockport, N.Y., company, whose First Niagara Bank...

In Brief: Wis. Bank's Unit Buys Ill. Insurance Group.(Brief article)
October 2, 2006... Phoenix Group, an independent insurance agency and employee benefits company in Ripon, Wis., and a subsidiary of Hometown Bancorp, said Friday that it had bought Union Bank Insurance Group in Peru, Ill. It was the fifth acquisition in five...

In Brief: TD Ameritrade Realigns, Naming CFO, COO.(Brief article)
October 2, 2006... TD Ameritrade Holding Corp. has promoted executives to chief financial officer and operations chief in what it said was part of a series of management changes designed to increase sales. Bill Gerber was named chief financial officer, and...

Fidelity National Touting Pact.(Brief article)
October 2, 2006... Fidelity National Information Services Inc. says its credit card processing deal with BB&T Corp. validates its merger with Certegy Corp., which was aimed in part at boosting cross sales. Last week the Jacksonville, Fla., banking technology...

Global Payments: Unit's Landlord Became a Rival.
October 2, 2006... Global Payments Inc.'s money transfer unit, DolEx Dollar Express, now has an unlikely competitor -- the former landlord of some of the unit's branches has bought a money transfer business of its own. The Atlanta processor discussed the...

In Brief: ShoreBank Center Forms Roundtable.(Brief article)
October 2, 2006... The Center for Financial Services Innovation, a nonprofit division of ShoreBank Corp. of Chicago, has selected five inaugural members of an "Innovators Roundtable" that will try to improve margins and empower consumers in the underbanked...

In Brief: Reset Worries Found In Borrower Survey.(Brief article)
October 2, 2006... Nearly 40% of homeowners with an adjustable-rate or interest-only mortgage are concerned about being able to make payments when they reset, according to a survey by Royal Bank of Canada's RBC Capital Markets. Another 13% have "not given it...

In Brief: CBRE Realty's IPO Is Short of Expectations.(Brief article)
October 2, 2006... CBRE Realty Finance, a real estate investment trust controlled by the property services giant CB Richard Ellis Group Inc., raised $113.7 million through an initial public offering, less than it had sought. The Hartford, Conn., REIT issued...

Clarification.(Correction notice)
October 2, 2006... In the Sept. 29 paper, the page 1 story on Countrywide's fraud suit should have explained that $16 million was American Banker's estimate of the dollar amount of the 116 loans listed in the appendix. It was calculated using 80% of the original...

BankUnited Downplays a Risk.
October 2, 2006... BankUnited Financial Corp., a Coral Gables, Fla., company already under investor fire for its reliance on option adjustable-rate mortgages, ran into a new problem last week over loans to a troubled real estate project. But the $12.9...

First Horizon CFO To Be Reassigned After '06 Filings.
October 2, 2006... First Horizon National Corp. said it plans to reassign its chief financial officer, adding more uncertainty to a year in which it reported a messy first quarter and has warned about results for the third. The $37.5 billion-asset Memphis...

In Brief: Fed OKs Wachovia's Deal for Golden West.(Brief article)
October 2, 2006... The Federal Reserve Board granted Wachovia Corp. approval Friday to buy Golden West Financial Corp. for $25.5 billion in cash and stock. The Fed approved Wachovia's application despite market-concentration levels in two Florida markets that...

In Brief: Spinoff Completed Of Western Union.(Brief article)
October 2, 2006... As expected, Western Union Co. completed its spinoff from First Data Corp. on Friday. Western Union's shares will begin trading today on the New York Stock Exchange. The Englewood, Colo., money transmitter's stock will be included in the...

In Brief: OCC Economist Sees Trouble Mounting.(Brief article)
October 2, 2006... Fundamental conditions in the banking industry are worsening and could result in lower earnings growth as the year continues, a federal regulator said. Nancy Wentzler, the chief economist of the Office of the Comptroller of the Currency,...

In Brief: JPM, Bank of N.Y.Set to Close Swap.(Brief article)
October 2, 2006... JPMorgan Chase & Co. and Bank of New York Co. Inc. were set to close their asset swap Sunday. The deal was announced April 8. JPMorgan Chase would trade its $2.8 billion corporate trust business and $150 million in cash for Bank of New...

Checking Them Out First.
October 3, 2006... Should community banks conduct background checks on prospective employees? Federal regulators require them to submit fingerprints on bonded employees, but beyond that there are no clear rules. Also inside: The New Market Tax Credit has...

Patriot, Capital to Spare, Eyes Acquisitions in Tex.
October 3, 2006... Patriot Bank can't spend its capital fast enough. The Houston bank, which opened in March of last year with $23 million of assets, had $382 million as of last week. Now it is wooing two banks in the Dallas market, where it already has a...

Military, Gambling Bills Raise Concerns: Defense Dept. gets sole rule-writing on key lending provision.
October 3, 2006... WASHINGTON -- By Monday, bank lobbyists had stopped celebrating their regulatory-relief victory and started worrying about two other bills Congress approved over the weekend in its rush to recess for the midterm elections. A Defense...

Big Gains for Citi in N.Y.C. Mystery Shop.(Citigroup Inc., Citibank, New York City)
October 3, 2006... Citigroup Inc.'s focus on its U.S. retail business may be starting to pay dividends. The $1.6 trillion-asset New York company's consumer banking unit, Citibank, jumped seven places to grab the top spot in Sandler O'Neill & Partners LP's...

In Brief: Golden West Alums Join Wachovia Board.(Golden West Financial Corp., Wachovia Corp.)(Brief article)
October 3, 2006... Wachovia Corp. has added two directors from the Oakland, Calif., thrift company Golden West Financial Corp. to its own board. The $700 billion-asset Charlotte company, which completed its $24 billion purchase of Golden West on Sunday, said...

Poll: Risk Management Not Uniform.(survey of financial industry's handling of risk analysis)(Industry overview)
October 3, 2006... WASHINGTON -- Despite huge investments of time and money, not to mention more than a little aggravation, a new survey shows the industry still is not managing risk on a comprehensive basis. Enterprise-wide risk management came into vogue...

In Brief: SF's 1st Republic Issues Warning.(First Republic Bank of San Francisco, California)(Brief article)
October 3, 2006... Shares of First Republic Bank of San Francisco plunged Monday on news that its third-quarter earnings would fall short of estimates. The $10.4 billion-asset company said that it expects earnings per share of 56 cents to 58 cents, and it...

In Brief: Pa. Alternative to Payday Loans.(Pennsylvania credit unions)(Brief article)
October 3, 2006... Following the lead of credit unions in several other states, at least 14 Pennsylvania credit unions are teaming up to offer their members a cheaper alternative to payday loans. Credit Union Better Choice will provide loans up to $500 for as...

Slight Opening-Day Gain for Western Union.
October 3, 2006... Shares of Western Union Co. inched upward Monday, its first day of public trading on the New York Stock Exchange. The money transfer company's stock began trading Sept. 21 on a "when-issued" basis at $20, and closed that day at $18.30;...

In Brief: B of A, Visa Renew Issuing Contract.(Brief article)
October 3, 2006... Bank of America Corp. and Visa U.S.A have renewed their card-issuing agreement, months after their previous contract lapsed. Visa announced the six-year renewal Monday. It is retroactive to the beginning of this year. A Wall Street...

In Brief: Fiserv Fraud Fight Widening to Canada.(Fiserv Inc.)(Brief article)
October 3, 2006... Fiserv Inc. plans to offer anti-fraud software from Fair Isaac Corp. to the Canadian financial companies that use its Accel/Exchange Network to process debit transactions in that country. The Brookfield, Wis., vendor already offers Fair...

In Brief: VeriFone to Close Lipman Deal in Nov.(VeriFone Holdings Inc. purchase of Lipman Electronic Engineering Ltd.)(Brief article)
October 3, 2006... The point of sale terminal manufacturer VeriFone Holdings Inc. expects to close its purchase of its Israeli competitor Lipman Electronic Engineering Ltd. on Nov. 1. The San Jose company said last week that shareholders of both companies...

In Brief: Hypercom Seeks PIN Pad Certification.(point of sale terminal equipment)(Brief article)
October 3, 2006... Hypercom Corp. has submitted its P4100 universal PIN pad for certification for several types of payments. The Phoenix point of sale terminal manufacturer introduced the device in April, and said Monday that it expects to get it certified to...

In Brief: Saylent Signs Up Colo.'s Alpine Banks.(Saylent Technologies Inc., Alpine Banks of Colorado)(Brief article)
October 3, 2006... Alpine Banks of Colorado has licensed a pair of payment card management applications from Saylent Technologies Inc. to keep better track of its debit card program and increase customer loyalty. Saylent, of Medway, Mass., said Monday that...

In Brief: Pinnacle POS Effort With Nat'l Payment.(Pinnacle Corp., National Payment Card LLC to develop point of sale system )(Brief article)
October 3, 2006... Pinnacle Corp., a provider of automation technology to convenience stores, and the service bureau National Payment Card LLC said they will develop a system to let consumers initiate payments with nonpayment cards. Pinnacle, of Arlington,...

Bank Holding Companies with Highest Concentration in Home Equity Loans: On March 31, 2006. Dollars in thousands.(Statistical data)
October 3, 2006... Domestic Concentration* Home equity loans loans March 31 Year earlier March 31 Change & leases 1 First American Bank Corp. Elk Grove Village, Ill. 32.64%...

Va. Bank Pumps Up Brokerage with Alliance.(Monarch Financial Holdings Inc., Virginia Asset Group, BI Investments)
October 3, 2006... Chesapeake, Va.-based Monarch Financial Holdings Inc. says it hopes its alliance with a local broker-dealer will invigorate its five-year-old investment brokerage unit. The holding company, whose bank subsidiary, Monarch Bank, has $378...

In Brief: Sky Financial Buys A Benefits Agency.(Sky Financial Group Inc., Lindig Benefit Consultants)(Brief article)
October 3, 2006... Sky Financial Group Inc. announced Monday that it had bought a Worthington, Ohio, insurance agency that specializes in association member benefit programs. The $15.8 billion-asset Bowling Green, Ohio, banking company said that its purchase...

In Brief: Mellon Purchases Scottish Equity Firm.(Walter Scott & Partners Ltd.)(Brief article)
October 3, 2006... Mellon Financial Corp. said Monday that it had closed its previously announced deal for Walter Scott & Partners Ltd., an Edinburgh equity investment firm specializing in global and international strategies. The deal, which was paid for in...

In Brief: Nationwide Closes Gartmore-Unit Sale.(Brief article)
October 3, 2006... Nationwide Mutual Insurance Co. in Columbus, Ohio, announced the closing Monday of its sale of Gartmore Investment Management PLC, the London-based arm of its Gartmore Group, to Hellman & Friedman Advisors LLC, a San Francisco private equity...

In Brief: Legg Rebrands Managed Accounts.(Brief article)
October 3, 2006... Legg Mason Inc. said on Monday that it had renamed its separately managed account businesses, using the ClearBridge and Western Asset Management brands. CAM North America LLC became ClearBridge Advisors LLC, and Salomon Brothers Asset...

In Brief: BlackRock Closes Sale to Merrill Lynch.(Brief article)
October 3, 2006... BlackRock Inc. announced Monday that it had completed its merger with Merrill Lynch Investment Managers on Friday. The combination of the two entities created an investment management company with $1.046 trillion of assets under management,...

Ownit Head: First Franklin to Remain A Rival After Sale.(Bill Dallas)(Company overview)
October 3, 2006... First Franklin Financial Corp. and Ownit Mortgage Solutions Inc. have much in common: Bill Dallas, who founded First Franklin, now runs Ownit. The two companies also expect to share a significant investor soon. Merrill Lynch & Co. Inc.,...

Warehouser Suing Firm, Borrowers in Fraud Case.(NattyMac LLC, Countrywide Financial Corp., suing People's Trust Mortgage LLC)(Company overview)
October 3, 2006... In addition to Countrywide Financial Corp., the list of lenders claiming financial exposure to an alleged massive mortgage fraud in Indiana includes NattyMac LLC, a St. Petersburg, Fla., warehouse lender that is suing People's Trust Mortgage...

Marketing Chief for First American.(Brief article)
October 3, 2006... First American Corp. has hired Sandra Bell as a vice president and chief marketing officer. In the newly created position, announced Monday, Ms. Bell will identify and oversee the Santa Ana, Calif., company's corporate marketing...

Banks Curtail AirNet Service as Checks Fall.
October 3, 2006... The announcement by AirNet Systems Inc., the nation's largest courier of canceled checks, that three big banks are cutting back their use of its services reflects the ongoing decline in check volume. In a filing last week with the...

In Brief: Mo. Bankers' Bank To Use Imaging Tool.(Brief article)
October 3, 2006... Midwest Independent Bank, a Jefferson City, Mo., bankers' bank, has agreed to use imaging software from US Dataworks Inc. The Houston banking technology vendor said last week that Midwest Independent would use the Clearingworks software to...

In Brief: Vicor Predicts Surge In B-to-B E-Payments.(Brief article)
October 3, 2006... Forty percent of business-to-business payments will be made electronically this year, according to a report from Marshall & Ilsley Corp.'s Vicor Inc. The Richmond, Calif., maker of lockbox automation systems said Monday in its inaugural...

JPM Chase Information Chief Retires.(Austin Adams)(Brief article)
October 3, 2006... Austin Adams, the chief information officer of JPMorgan Chase & Co., has retired after a 34-year career as an architect of banking technology systems. Mr. Adams, 63, left the $1.3 trillion-asset New York banking company last week. ...

In Brief: Blue Cross Blue Shield Seeks Thrift Charter.(Brief article)
October 3, 2006... Blue Cross Blue Shield Association has filed an application with the Office of Thrift Supervision to charter a savings association in Utah under the name HealthBenefit Bank or Blue Healthcare Bank, an OTS spokesman said Monday. The health...

In Brief: Report: Terrorism Risk Modeling Improved.(Industry overview)(Brief article)
October 3, 2006... The ability of private insurers to protect against huge losses from terrorism has improved since the Sept. 11 attacks, but a federal backstop enacted after the attacks makes market assessment difficult, according to a Bush administration...

In Brief: High Court to Consider Preemption Case.(Watters v. Wachovia Bank)(Brief article)
October 3, 2006... The Supreme Court announced Monday that it plans to hear arguments Nov. 29 in Watters v. Wachovia Bank, the first banking preemption case to come before the high court in a decade. The case stems from a rule the Office of the Comptroller of...

In Brief: Mortgage Servicing Rights Sale at Irwin.(Irwin Financial Corp.)(Brief article)
October 3, 2006... Irwin Financial Corp. of Columbus, Ind., said Monday that it has sold almost its entire conventional mortgage servicing rights for about $261 million to four unnamed buyers. The $6.5 billion-asset banking company said the transfer of the...

Sandler Turns Bearish On BankAtlantic's Shares.
October 3, 2006... Sandler O'Neill & Partners LP downgraded shares of BankAtlantic Bancorp Inc., citing slowing growth at its retail bank and its investment banking unit, Ryan, Beck & Co. Inc., as well as a belief that the company has no immediate interest in...

Screen Play.
October 3, 2006... No one disputes that banks should conduct background checks on prospective employees who would have unlimited access to customers' financial information. Imagine the public relations beating a bank would take if word got out that an employee...

Software Makes Warehouse Lending Easier.
October 3, 2006... Recent advances in warehouse lending technology and outsourcing services are providing community bankers with a new opportunity to lend to mortgage origination companies. Mortgage originators need interim financing for the time from when a...

Let's Go to the Videotape: Tex. Banker Changes Gridiron Jobs.(Lubbock City Bank's Mike Liner in the press box)
October 3, 2006... Mike Liner has traded in his whistle for a television monitor. After nearly 20 years refereeing Division I college football, Mr. Liner - who doubles as chief executive of the $1 billion-asset City Bank in Lubbock - is spending Saturdays...

Staffing a Branch: Tellers, Managers, and a Curator.(New York's Park Avenue Bank)
October 3, 2006... Park Avenue Bank in New York has a very unusual consultant for its newest branch: a curator. The branch, which the $330 million-asset bank is scheduled to open on Park Avenue in Manhattan this fall, will include an art gallery featuring...

Background Checks: Who Is Screened? How Much?
October 3, 2006... When Candace Tooze, in her fifth month of work at Compass Bank in Phoenix, arrived for work one morning in March, she was met by someone in a trench coat, hat, and sunglasses, who led her into the vault and had her and another female employee...

Federal Tax Credit Helps Banks Help Hometowns.(Washington's City First Bank)
October 3, 2006... City First Bank in Washington may be small, but it is having a big impact on redeveloping some of the city's most rundown neighborhoods. The $126 million-asset bank has used the federal New Market Tax Credit to invest $113 million in...

A 'Bank One' Template for Chase, BNY.(Company overview)
October 4, 2006... Two weeks after converting its New York market branches to a new operating system, JPMorgan Chase & Co. said it is optimistic it can repeat its performance with most of the 339 branches it bought over the weekend from Bank of New York Co. Inc....

How 'Through the Shredder' Became a Marketing Pitch.(Mercantile Potomac Bank )(Industry overview)
October 4, 2006... Since Mercantile Potomac Bank began holding Community Shred days last year, thousands of people -- including many noncustomers -- have shown up at its parking lots to destroy old bank statements, credit card bills, and anything else that...

Oh, What a Relief It Isn't: Most Say Bill Disappoints.
October 4, 2006... WASHINGTON -- Though industry representatives are trumpeting the success of a decade-long effort to pass a bill on regulatory relief, the victory has proven to be largely hollow, bankers and observers agreed Tuesday. The bill, passed by...

NetBank To Simplify Business Model.(Company overview)
October 4, 2006... The struggling NetBank Inc. has appointed a new chief executive and plans to overhaul its strategy. Douglas K. Freeman stepped down Tuesday as chairman and CEO, acknowledging that his turnaround efforts at the online banking company had...

Executive Changes.(Brief article)
October 4, 2006... NEW ENGLAND Columbia Management Group Inc., the Boston asset management unit of Bank of America Corp., has hired Arthur Hurley as the portfolio manager of its real estate equity fund. Mr. Hurley was the lead portfolio manager of the...

FDIC Fights Ruling It Conspired to Take Redwoods.
October 4, 2006... WASHINGTON -- The Federal Deposit Insurance Corp. is appealing a federal judge's ruling that it conspired with the Clinton administration to seize redwood trees from a shareholder of a failed Texas thrift. Judge Lynn Hughes ruled in August...

National Banks Denied Civil Action Immunity.
October 4, 2006... WASHINGTON -- The debate over federal preemption took a rare turn against banks last week when a California appeals court ruled national banks are not immune from all civil actions in state courts. The 2-to-1 decision allows a class-action...

In Brief: BankAtlantic to Add Orlando Branches.(Brief article)
October 4, 2006... BankAtlantic Bancorp Inc. in Fort Lauderdale, Fla., said it plans to continue its expansion in its home state by opening at least four branches in Orlando next year. Two of the branches are slated to open in January, the $6 billion-asset...

In Brief: Irwin of Ind. Opens Two Offices in Ariz.(Brief article)
October 4, 2006... Irwin Financial Corp. of Columbus, Ind., has opened two offices in the Arizona cities of Glendale and Mesa. The $6.5 billion-asset company said Monday that it needs the offices to keep pace with the strong growth it has had in the Phoenix...

In Brief: Camden of Maine Merges Pair of Units.(Brief article)
October 4, 2006... Camden National Corp. in Maine has combined its two banking subsidiaries under the name of its flagship bank, Camden National Bank. Camden National Bank was founded in 1875. Its $1.8 billion-asset parent company has operated two banks...

In Brief: Opinions Split on Post-Deal First Data.(Brief article)
October 4, 2006... Analysts have mixed opinions about First Data Corp. now that it has spun off its money-transfer operation. On Tuesday, A.G. Edwards & Sons Inc. reiterated its "buy" rating for First Data's stock and said the Denver processor's earnings...

In Brief: CIT Buying Barclays Assets, Hires Exec.(Brief article)
October 4, 2006... CIT Group Inc. announced a hiring and a deal aimed at boosting the New York finance company's vendor finance businesses in North America and Europe. On Monday, CIT said it would buy the German and U.K. vendor finance businesses from...

In Brief: R.I.'s Citizens Names CEO for Issuing Arm.(Citizens Financial Group Inc. names Joseph A. Hoffman president and CEO of RBS National Bank)(Brief article)
October 4, 2006... Citizens Financial Group Inc., a Providence, R.I., unit of Royal Bank of Scotland Group PLC, has promoted Joseph A. Hoffman to president and chief executive of its credit card-issuing subsidiary, RBS National Bank. Mr. Hoffman, whose...

Cafe Taking Wait-and-See Approach.(Product/service evaluation)(Company overview)(Brief article)
October 4, 2006... In the six months since the Fatz Cafe in Winder, Ga., began testing VeriFone Holdings Inc.'s TablePay wireless-terminal service, executives at the restaurant chain say, tables have turned over faster and servers have been receiving more tips....

Vendors Pitch Wireless Terminals to Restaurants.(Product/service evaluation)
October 4, 2006... Wireless terminals have been touted for years as a way to extend electronic payments to taxis, at-home service providers, and other merchants that traditionally have not accepted payment cards, but now several terminal makers are targeting...

HSAs: Triple-Threat Tool in Banks' Inventory.(Product/service evaluation)
October 4, 2006... Some banks use them as a way to draw clients to wealth management services. Others use them as an additional investment product. And some community banks and credit unions use them defensively, to retain customers. For all these...

In Brief: Surge in E-Payments Forecast.(Product/service evaluation)(Brief article)
October 4, 2006... Forty percent of business-to-business payments will be made electronically this year, according to a report from Marshall & Ilsley Corp.'s Vicor Inc. The Richmond, Calif., maker of lockbox automation systems said Monday in its inaugural...

In Brief: Bankers' Bank to Use Software.(Brief article)
October 4, 2006... Midwest Independent Bank, a Jefferson City, Mo., bankers' bank, has agreed to use imaging software from US Dataworks Inc. The Houston banking technology vendor said last week that Midwest Independent would use the Clearingworks software to...

Banks Curtail AirNet Service as Checks Fall.
October 4, 2006... The announcement by AirNet Systems Inc., the nation's largest courier of canceled checks, that three big banks are cutting back their use of its services reflects the ongoing decline in check volume. In a filing last week with the...

Freddie Mac Said Backpedaling on Schedule.(Company overview)
October 4, 2006... Freddie Mac estimated that its second-quarter earnings more than tripled from a year earlier, to $1.2 billion under generally accepted accounting principles, and that its return on the fair value of net assets exceeded long-term guidance. ...

In Brief: Equifax Inc. Names Successor to CFO.(Brief article)
October 4, 2006... Equifax Inc. said it has appointed Lee Adrean to succeed Donald T. Heroman as the credit bureau's chief financial officer. Mr. Adrean was to start at the Atlanta company today, reporting to the chairman and chief executive, Richard F....

In Brief: Swiss Re Names Financial Services Head.(Roger W. Ferguson, Jr.)(Brief article)
October 4, 2006... Swiss Reinsurance Co. announced Tuesday that it has promoted Roger W. Ferguson Jr. to head its financial services unit and made him a member of its executive committee. Mr. Ferguson, who served as vice chairman of the Federal Reserve Board...