Georgius has held the title of vice chairman of the corporation since 1996. As president, he will continue to manage First Union's operations in its seven southeastern states and will assume responsibility for operations in New York, Delaware, Pennsylvania, New Jersey and Connecticut. Also reporting to Georgius are First Union's growing Capital Management Group, the Consumer Group (including mortgage, card products and direct banking activities), the Automation and Operations Group and other staff functions.
"John has had the vision to recognize the changing needs and preferences of our commercial and retail customers, and has driven major changes in these areas to ensure we are ready to exceed our customers' expectations, lead the competition and reward our shareholders," said Edward E. Crutchfield, First Union's chairman and chief executive officer. "John's combination of vision and a get-it-done mentality is rare, and we are fortunate to have his leadership."
Georgius, 53, began his banking career in 1963 and joined First Union in 1975. During his early career at First Union, he led the Trust Division and the General Banking Group of First Union National Bank of North Carolina. In recent years, he has led the corporation's successful efforts in several key areas:
- The redesign of First Union's commercial bank, resulting in dramatic reductions in the turnaround time for loan requests and a more comprehensive approach for assessing client needs;
- The current redesign of First Union's consumer bank, which is revolutionizing the way banking services are delivered through the branch network and innovative new channels;
- The successful, rapid integration of every First Union merger as the company expanded from a one-state bank to a dominant East Coast financial power.
"John is the one who sounded the 'wake-up call' on the need to offer investment products," said Crutchfield. "He's had the consistent ability to assess where the banking business was heading and to get us there first."
Georgius is also a b advocate for First Union's community involvement efforts, particularly in the area of improving education through contributions and paid time off for employees to give their time and talents to this important initiative.
Georgius is a graduate of Georgia State University. He is a member of the Senior Council of the Greater Charlotte Chamber of Commerce, a member of the board of directors of the Presbyterian Hospital Foundation, a director of the UNC-Charlotte Foundation board and a director of Alex Lee Inc. He also serves on the advisory board of the Boy Scouts of America.
First Union is the nation's sixth-largest bank holding company, with assets of $144 billion as of September 30, 1997. 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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