As general banking executive, Reid will provide leadership for both the consumer and the commercial areas of the company and for First Union's area presidents in Connecticut, Delaware, New Jersey, New York and Pennsylvania.
"Bob has provided exceptional leadership as we have worked to build First Union - Atlantic into the premiere financial services organization in this region," said Parcells. "This recognition of his b performance is the logical next step in his career development."
Reid has served as Philadelphia area president since 1996, responsible for First Union's consumer and commercial business in Philadelphia, Bucks, Montgomery, Chester and Delaware counties in Pennsylvania and in the state of Delaware. Prior to then he was president, chairman and chief executive officer of First Union-Tennessee.
A native of Statesville, N.C., Reid joined First Union in 1978. After completion of management training he spent a year in Charlotte before joining the commercial loan group in Raleigh, N.C. In 1983 he was transferred to the Hickory, N.C., office and later was promoted to commercial banking manager. He became the city executive in 1988 and area executive for Hickory in 1991.
Reid holds a bachelor's degree in business administration from Wake Forest University in Winston-Salem, N.C.
First Union-Atlantic is a subsidiary of First Union Corporation (NYSE:FTU). At September 30, 1997, First Union had assets of $144 billion. Total stockholders' equity was $11 billion. The company operates full-service banking offices in Connecticut, Delaware, Florida, Georgia, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and Washington, D.C.
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