American Security Bank has named a top officer of Citibank in New York to become head of the Washington bank's trust department.
Parker E. Nielson, senior vice president and general manager of the personal financial management division at Citibank will succeed Joseph L. Whyte as chief officer of the area's largest trust operation when Whyte retires on Sept. 30.
Whyte currently is a vice chairman of American Security Bank. Nielson was named senior vice president and trust officer. He began his banking career with Citibank in 1951 and is one of several former Citibank officers to move into leadership positions at the D.C. bank in recent years.
In other appointments, Marriott Corp. executive G. Michael Hostage and People Drug Store head Sheldon W. Fantle, have been named to the board of directors of American Security Bank and its parent company. American Security Corp. Hostage is executive vice president of Marriott, in charge of consumer-based businesses. Fantle is president and chief executive officer of Peoples Drug Stores Inc., the seventh largest drug chain in the United States.
Louis B. Dotti Jr. has been named senior vice president and treasurer of Newsweek Inc., succeeding James F. Glancy, who has resigned from the New York magazine subsidity of Washington Post Co.
Before coming to Newsweek, Dotti was general manager of New Times. Prior to that he served with Time Inc., first as assistant director of budgeting and financial analysis and then as business manager of Sports Illustrated and finally as business manager of Time magazine.
B.F. Saul Co. has announced the election of four senior vice presidents. They are: Stephen D. Cox, Michael F. Johnson, Thomas A. McAvity, Jr., and George T. May. Elected vice presidents were James F. Chadbourned III, who was also named controller, and John W. Sexton.