Stuart A. McFarland has been named executive vice president and chief financial officer of the Federal National Mortgage Association, effective Oct. 31. He is currently executive vice president and chief planning officer. Scott R. Daugherty was named vice president of investor marketing.

John F. McShea has been elected chairman of the board of directors of the Riviere Corp., the holding company of Riviere Securities Corp., a Washington investment banking and stock brokerage firm.

McShea was formerly president of Riviere Realty Trust, a publicly owned real estate investment trust. He was a founder of Atlantic Telephone Inc., where he served as chairman of the board and president until its merger with Continental Telephone, when the company became Executone-Atlantic. He now serves as chairman of that subsidiary. McShea is also chairman of McShea & Co., a Chevy Chase real estate firm and is a principal in McShea Travel of Rockville.

Sandra H. Cook and Sharon Y. Weller have been promoted to assistant vice presidents of First and Merchants National Bank. Ardeelou A. Adams, Nancy Davis and Daphne J. Elliott have been promoted to assistant cashiers.

Edsel G. Shaffer and Robert Strietman have been elected vice presidents and regional branch administrators of the Bank of Maryland. Shaffer and Strietman were formerly assistant vice presidents. Janice B. Griffee has been promoted to assistant treasurer. Griffee is manager of the Bank of Maryland's Derwood branch.