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GEORGINA MACDONALD ELECTED PRESIDENT OF FLEET MANAGEMENT AND RECOVERY CORP.

 BOSTON, Sept. 23 /PRNewswire/ -- Georgina Macdonald has been elected president of Fleet Management and Recovery Corp. (FMRC), it was announced today by H. Jay Sarles, vice chairman of Fleet Financial Group (NYSE: FLT), FMRC's Providence, R.I.-based parent company.
 FMRC is a full-service asset management and recovery company that provides public- and private-sector clients with high-quality asset servicing. FMRC currently manages portfolios aggregating approximately $1 billion, spread geographically across the country.
 Macdonald had been senior vice president and head of the Owned Real Estate Division (ORE) of RECOLL Management Corp. since 1992. She joined RECOLL as a senior vice president and head of the Sales and Marketing Department in 1991. RECOLL is a Boston-based Fleet Financial Group subsidiary created in June 1991 as an asset management contractor for the Federal Deposit Insurance Corp. (FDIC).
 Prior to joining RECOLL, Macdonald spent five years as president of a privately held real estate investment company and as a real estate consultant. Earlier, she was a senior vice president and group manager in the Commercial Real Estate Department at Fleet National Bank, Providence, from 1981 to 1986. She was director of corporate communications for Fleet Financial Group from 1977 until 1981.
 Macdonald, who majored in history at Indiana University, is a trustee of the Society for the Preservation of New England Antiquities (SPNEA). A founding member of the Steering Committee of the New England Women in Real Estate (NEWIRE), she is a board member of the Real Estate Finance Association, Greater Boston Real Estate Board. Macdonald and her family live in Bristol, R.I.
 Fleet Financial Group is a $45-billion diversified financial services company listed on the New York Stock Exchange with approximately 1,200 offices nationwide. Its lines of business include commercial and consumer banking, mortgage banking, consumer finance, asset-based lending, investment management, and student loan processing.
 -0- 9/23/93
 /CONTACT: Robert W. Lougee, Jr. vice president and director, corporate communications, 401-278-5879; or Bruce P. Crooks, 401-278-6241; or Thomas L. Lavelle, 401-278-3003, all of Fleet Financial/
 (FLT)


CO: Fleet Financial Group ST: Rhode Island IN: FIN SU: PER

CM-DJ -- NE012 -- 5209 09/23/93 12:31 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
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