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MARK CASADY JOINS CONCORD FINANCIAL GROUP AS SENIOR VICE PRESIDENT, NATIONAL SALES MANAGER

 NEW YORK, Aug. 12 /PRNewswire/ -- The appointment of Mark S. Casady as senior vice president, National Sales Manager, Concord Financial Group, Inc., was announced today by Richard E. Stierwalt, chief executive officer.
 Casady, who will be responsible for leading Concord's institutional sales force, will report to J. Christopher Klutch, senior executive vice president of sales and business development. He will be based in Concord's Chicago office.
 Stierwalt also announced the expansion of Concord's national institutional sales force to include a new Mid-Atlantic Region office and additional territories and staff for four other regional sales offices.
 Concord is the largest administrator and distributor of bank-related mutual funds with more than $30 billion in mutual fund assets under administration. Its institutional sales force has raised over $16 billion in assets for the mutual funds of its bank partners.
 "Mark Casady is a proven sales executive with an extensive background in institutional investments," said Stierwalt. "We are fortunate to have him lead our institutional sales force. With Casady joining our successful regional sales vice presidents, who have been given additional responsibilities, Concord will have one of the strongest institutional sales teams in the industry."
 "These changes reaffirm Concord's commitment to raising assets for our partners' mutual funds," Stierwalt added. "This is important for our client's growth and for Concord's success."
 Existing regional sales offices that have been expanded are: Northeast (Boston), under William Thomas, regional vice president; Midwest (Chicago) under Kirt Bjork, regional vice president; South and Southeast (Smyrna, Ga.) under Preston Loftin, regional vice president. Restructuring of the Western Region institutional sales office in San Francisco will be announced. The new Mid-Atlantic Region office, under Regional Vice President Tim Friday, will be located in Pittsburgh and cover Ohio, Pennsylvania, West Virginia and Delaware.
 Casady joins Concord from the Northern Trust Company in Chicago where he has held various executive positions with increasing responsibility over the past 11 years. Most recently he was vice president - institutional investments, with responsibility for sales, product management and strategy for the manager of $45 billion of tax- exempt assets. In this position he created capital markets portfolios for the Benchmark Mutual Fund Family and increased fund assets by $1.5 billion in one year.
 Previously he was vice president of the Northern Trust Company of London, vice president and chief operating officer of Investment Services and vice president of Global Custody Accounting.
 Casady graduated from Indiana University with a B.S. degree and received an M.B.A. in finance from DePaul University. He also attended the University of Wisconsin, School for Bank Administration.
 -0- 8/12/93
 /CONTACT: James Brown or Stan Appenzeller of Arlen Financial Communications, 212-966-5100/


CO: Concord Financial Group, Inc. ST: New York IN: FIN SU: PER

MP-OS -- NY049 -- 2178 08/12/93 14:31 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
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