In his new role, Slocum will be responsible for the ongoing development, refinement and execution of a coordinated strategy to make First Union the preferred financial services provider for commercial real estate developers, owners and investors. He also will be responsible for further building the partnership with First Union's Real Estate Capital Markets Group to effectively market those products and services to commercial real estate clients. Slocum will relocate with his family to Charlotte.
"We're committed to being the best real estate bank on the East Coast," said Ben Jenkins, vice chairman and head of First Union's General Bank. "With Mike's leadership and focus, this organizational structure will help us provide the most proactive, comprehensive service to our real estate customers on a local level, while fostering the collaborative partnerships needed on the corporate level. We are extremely fortunate to have Mike leading this effort."
Slocum, a 12-year First Union veteran, has been in Florida for two years and previously was head of the company's commercial real estate effort in Georgia. Slocum has spent the majority of his 21-year banking career in commercial sales. He has a Bachelor of Arts degree in Economics from Colgate University.
Slocum replaces Dick Carling, who heads commercial real estate relationship management for First Union. Carling will retire at the end of the year.
"Dick has been a tremendous asset and team player to this business and to this company," Jenkins said. "Throughout his 33-year banking career, he has played a key role in establishing greater consistency in our company's sales and risk management processes, and he's helped lay the foundation for creating a singular business approach to the real estate market. Dick will be missed greatly, and we wish him the best of luck."
About First Union Corporation
First Union (NYSE:FTU), with $258 billion in assets and stockholders' equity of $14 billion at June 30, 2000, is a leading provider of financial services to 15 million retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices in 12 East Coast states and Washington, D.C., and full-service brokerage offices in 44 states and international offices worldwide. Online banking products and services can be accessed through www.firstunion.com.
