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 DETROIT, Sept. 20 /PRNewswire/ -- Charles T. Fisher III, Chairman, President and Chief Executive Officer of NBD Bancorp (NYSE: NBD) and its lead bank, NBD Bank, N.A., announced today that he will retire effective Dec. 31, 1993. NBD has a policy of compulsory retirement at age 65 for senior officers. Mr. Fisher, 63, said he will retire 11 months early, noting that his succession team is well in place. He will remain a member of NBD's board of directors.
 Succeeding Mr. Fisher are Verne G. Istock as Chairman and Chief Executive Officer, and Thomas H. Jeffs II as President and Chief Operating Officer. Both are Vice Chairmen of NBD Bancorp and of the lead bank. They will assume their new responsibilities Jan. 1, 1994. Thomas M. Miller, Chairman of NBD Indiana, Inc., will continue as Vice Chairman and a director of NBD Bancorp.
 Mr. Fisher said, "I am confident that NBD's continued growth and strength are assured with the superb combination of Verne Istock and Tom Jeffs as Chairman and President.
 "They have the vision, talent and dedication to lead NBD into the twenty-first century as a leading super-regional financial institution."
 Mr. Istock said, "Under Chick Fisher's leadership, NBD has grown from a southeastern Michigan bank into a multi-state super-regional. Moreover, he has personally involved himself in working for the betterment of the Greater Detroit community.
 "Chick is a true statesman in the banking industry. He has set the standard and built the foundation for Tom and me to continue NBD's success," he said.
 Mr. Jeffs added, "Under Chick's direction, NBD has developed managers with the vision to see the challenges that lie ahead and the ability to develop strategies to meet them.
 "Both Verne and I firmly believe that it is teamwork that builds success in a corporation, and all of us here at NBD have had the benefit of an outstanding team captain and role model," he said.
 Mr. Fisher joined NBD as an assistant vice president in 1958. After a series of promotions, he was elected President in 1972. He was the second member of his family to serve as President of NBD; his father, Charles T. Fisher, Jr., was President from 1938 until his death in 1958 at the age of 51.
 With the formation of NBD Bancorp in 1973, Mr. Fisher was elected President and a director of the holding company. He assumed the additional titles of Chairman of the Board and Chief Executive Officer in 1982.
 Mr. Fisher was born in Detroit. After receiving his A.B. degree in economics from Georgetown University in 1951 and an M.B.A. degree from the Harvard Graduate School of Business Administration in 1953, he joined the accounting firm of Touche, Ross, Bailey and Smart (now Deloitte & Touche). He received his Certified Public Accounting certificate in 1957.
 He is a director of AMR Corporation, the parent company of American Airlines, and of General Motors Corporation. He is also a director of New Detroit, Inc., vice chairman and past chairman of Detroit Renaissance, Inc. and the Detroit Renaissance Foundation. He is a trustee of the Detroit Medical Center and the Founders Society of the Detroit Institute of Arts.
 Mr. Fisher is former co-chairman of the Greater Detroit Interfaith Round Table and chairman of the Mackinac Bridge Authority. He is a director, vice president and past chairman of the United Way for Southeastern Michigan, former chairman of the Economic Club of Detroit, past president of the Association of Reserve City Bankers and the Federal Advisory Council and a former director of the International Monetary Conference. He has received numerous honors for his leadership in the financial world as well as his involvement in civic affairs.
 Verne G. Istock, 53, joined NBD in 1963 as a credit analyst trainee. He assumed increasing responsibility in various parts of the organization over a number of years. In 1982 he was promoted to Executive Vice President of NBD Bancorp in charge of all corporate banking divisions. He was elected a director and Vice Chairman of NBD Bancorp and NBD Bank in 1985.
 A native of Grosse Pointe, Mich., Mr. Istock received an A.B. degree in economics in 1962 and an M.B.A. degree in finance in 1963 from the University of Michigan.
 Mr. Istock is a member of the boards of directors of Grand Trunk Corporation and its subsidiary, Grand Trunk Western Railroad Company; the Handleman Company; Kelly Services, Inc., and R.L. Polk and Co.
 He is a director and treasurer of the United Way for Southeastern Michigan, and also serves on the finance, executive, capital fund division and strategic planning committees of the United Way. Mr. Istock is a member of the Association of Reserve City Bankers, and has served on the boards of directors of the Michigan State Chamber of Commerce and the Business Attraction and Expansion Council of the Greater Detroit Chamber of Commerce. He is a past president of the University of Michigan Alumni Association.
 Thomas H. Jeffs II, 55, joined NBD in 1962 as a credit analyst trainee. After a series of promotions in various areas of responsibility, in 1982 he was elected Executive Vice President in charge of all retail banking divisions. Mr. Jeffs was elected Vice Chairman and a director of NBD Bancorp and NBD Bank in 1985.
 A native of Grosse Pointe, Mich., Mr. Jeffs received a B.B.A. degree in general business in 1960 and an M.B.A. degree in 1961 from the University of Michigan. Both degrees were awarded with high distinction. From 1961 to 1962 he served in the U.S. Army Reserve Corps of Engineers.
 He is a member of the boards of directors of MasterCard International, Inc.; MCN Corporation, and the Royal Group of Charlotte, N.C., and its Southfield, Mich., subsidiary, Royal Maccabees Life Insurance Company.
 He is a director and executive committee member of the Highway Users Federation, serves as a member of the executive committee of the Detroit Symphony Orchestra Hall, and is past chairman and trustee of St. John Hospital and Medical Center. Mr. Jeffs is also a member of the Association of Reserve City Bankers and a member of the Visiting Committee of the University of Michigan School of Business Administration.
 NBD Bancorp is a $40 billion bank holding company based in Detroit, with more than 650 banking offices serving Michigan, Indiana, Illinois, Ohio and Florida. It is the only Midwest regional bank with full- service international capabilities, with offices in Australia, Canada, England, Germany, Hong Kong and Japan.
 -0- 9/20/93
 /NOTE: ILLINOIS EDITORS - NBD Bancorp is the parent company of two metropolitan Chicago banks with total assets of over $5 billion and 40 offices. OHIO EDITORS - NBD Bancorp is the parent company of NBD Bank with 23 offices in Columbus and Dayton, Ohio. INDIANA EDITORS - NBD Bancorp is the parent company of NBD Bank of Elkhart, Ind., NBD Bank, N.A. of Merrillville, Ind., and the INB Bank of Indianapolis. NBD has 248 offices in Indiana and $10 billion in assets. NBD Bancorp is the largest banking company in the state based on total assets. FLORIDA EDITORS - NBD Bancorp is the parent company of NBD Trust Company of Florida, N.A. with offices in North Palm Beach, Sarasota, Boca Raton and Naples, and NBD Bank, FSB with offices in Venice, Sarasota, North Palm Beach, Boca Raton and Naples./
 /CONTACT: J. Richard Johnson of NBD, 313-225-2591/

CO: NBD Bancorp ST: Michigan IN: FIN SU: PER

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Publication:PR Newswire
Date:Sep 20, 1993

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