First American Bank N.A. yesterday promoted senior executive vice president C. Jackson Ritchie Jr. to president and announced a major reorganization of its executive staff.
Ritchie, 47, succeeds Charles D. Daniel as president and chief administrativae officer of the Washington bank of Financial General Bankshares.
Daniel, 57, will become vice chairman of the board and said he is pursuing other business opportunities.
Daniel, Ritchie and Chairman of the Board Francis G. Addison III all insisted Daniel's departure was amicable. "As far as any innuendo of animosity, there is none whatsoever," Addison said. Daniel was extremely effective at generating new business during a period of major growth for the bank, he added.
A retired Army office who was president of First National Bank of Washington before the merger that eventually created First American of Washington, Daniel said he had decided "there are just too many people up here."
The new president is 20-year veteran of the banking business whose specialty is bank operations and management. Ritchie joined the bank 13 years ago, became executive vice president in 1974 and was elected to the board in 1977.
Ritchie described his appointment as part of "our plan for reorganizing the bank for the projected growth in the 1980s." The bank will seek to expand its retail business through joint promotions with the First American Banks of Virginia and Maryland, which also are owned by Financial General. Corporate growth will emphasize law firms, trade associations, nonprofit groups and "middle-tier businesses in the Richmond-to-Wilmington corridor."
As part of the reorganization, First American also announced these appointments:
Robert S. Cherouny, senior vice president for loan administration, will become executive vice president for Domestic Banking.
Richard Barrett, director of the International Division, becomes executive vice president for international banking and support services.
George Flather, head of the trust department, becomes executive vice president for trusts.