OFFICE OF THE CHAIRMAN ESTABLISHED AT SOCIETY
OFFICE OF THE CHAIRMAN ESTABLISHED AT SOCIETY CLEVELAND, Nov. 4 /PRNewswire/ -- Robert W. Gillespie, chairman and
chief executive officer of Society Corporation (NASDAQ: SOCI), today announced the establishment of a formal office of the chairman to guide the company through its upcoming integration with Ameritrust Corporation.
"This group of executives will assume principal management responsibility for the merged company," said Gillespie. "We believe communications and the management process will be enhanced through this structure during the critical months and years ahead." In addition to Gillespie, the office of the chairman consists of Henry L. Meyer III, vice chairman and chief banking officer; Roger Noall, vice chairman and chief administrative officer; and James W. Wert, vice chairman and chief financial officer. Key management assignments will be announced in the weeks ahead through the members of the office of the chairman. These assignments are designed to facilitate integration planning and identify the management structure of the merged company. "It is our goal to have the Society/Ameritrust consolidation become the standard by which large bank consolidations are measured," said Gillespie. "The key to success in this process will be a clear delineation between internal integration responsibility and external customer service commitment. Consequently, many of the key personnel assignments will indicate this distinction between integration and post-merger responsibilities." Gillespie added, "It is our hope that as 1992 progresses, we will see a smooth transition from integration planning and implementation to long-term strategic management in further pursuit of our vision to become the leading provider of quality financial services throughout the Great Lakes Region." Society Corporation is one of the largest banking holding companies in the Midwest with $15.4 billion in assets at Sept. 30, 1991. The holding company has 350 offices in Ohio, Michigan, Indiana and Florida. Through its affiliates, Society engages in commercial banking, consumer banking, mortgage banking and leasing, and provides trust and investment banking services. On Sept. 13, 1991, Society Corporation and Ameritrust Corporation jointly announced a definitive agreement for the merger of Ameritrust into Society, creating a $26 billion bank holding company. The combination, which is subject to shareholder and regulatory approval, is expected to be completed in the first quarter of 1992. ROBERT W. GILLESPIE Chairman, President and Chief Executive Officer, Society Corporation; Chairman and Chief Executive Officer, Society National Bank Robert W. Gillespie, as chief executive officer of Society Corporation, is responsible for the overall performance of the corporation through the three members of the office of the chairman reporting directly to him. In addition, Gillespie participates actively in the quality assurance and control functions of the company, namely audit, loan review and credit policy. He was elected chief executive officer and president of Society Corporation in 1987 and chairman in 1988. He was elected chairman and chief executive officer of Society National Bank in 1985. Gillespie previously served as executive vice president and then vice chairman and chief operating officer of Society Bank, executive vice president of the corporation, and president and chief operating officer of the corporation and the bank. Gillespie began his association with Society on a part-time basis while completing graduate studies at Case Western Reserve University where he received his M.B.A. in 1968. His first assignment after joining the bank full-time was as a credit analyst. He also earned a B.A. in economics at Ohio Wesleyan University and is a graduate of the Harvard University Graduate School of Business School's Advanced Management Program. He has gained extensive experience over a broad range of financial activities, having been responsible for Society's corporate, retail and operations activities. Gillespie serves on the boards of trustees of Case Western Reserve University, Ohio Wesleyan University, University Hospitals of Cleveland and Musical Arts Association of Cleveland. He also sits on the board of directors of Greater Cleveland Growth Association. He is chairman of Greater Cleveland Roundtable and a member of Cleveland Tomorrow and North Coast Harbor. Gillespie, his wife Ann, and their two children live in Gates Mills. HENRY L. MEYER III Vice Chairman and Chief Banking Officer, Society Corporation; President and Chief Operating Officer, Society National Bank Henry L. Meyer III has responsibility for the operations of Society's affiliate banks as well as the banking functions that reside in the holding company structure. He is a member of the management committee of both Society National Bank and Society Corporation. After receiving a B.A. in econometrics from Colgate University in 1972, Meyer joined Society National Bank as a management trainee and was given positions of increasing responsibility in the credit and commercial banking departments. In 1976 Society granted him a leave of absence to study at Harvard Business School where he received an M.B.A. in 1978. In addition to his commercial banking experience Meyer has had responsibility for the bond department at Society, was the president and chief operating officer of Society Bank, N.A. in Dayton, and was the retail center executive for Society Corporation. Active in Cleveland's civic and cultural life, Meyer serves on several boards in the greater Cleveland area. He serves as a trustee of John Carroll University, the Cleveland Museum of Natural History, the Cuyahoga County Unit of the American Cancer Society, Neighborhood Progress Inc., University School, and is on the executive committee and the board of both the Federation for Community Planning and University Health Systems, Inc. Meyer, his wife Jane, and their three sons live in Shaker Heights. ROGER NOALL Vice Chairman and Chief Administrative Officer, Society Corporation As the chief administrative officer of Society Corporation, Roger Noall is responsible for audit, information technology and operations, law, human resources, corporate planning and development, and credit policy and loan review. He is also overseeing the relocation into Society Center and related facilities issues. Noall joined Society Corporation when Centran Corporation was merged into Society in 1985 and was elected to its board of directors in 1986. He was elected vice chairman of the board in 1987. At Centran, he was executive vice president and chief financial officer. Before joining Centran he was a partner in a New York City law firm and was a director and executive vice president of Bunge Corporation. Noall is a graduate of the University of Utah, Harvard Law School (where he was an editor of its law review) and New York University Graduate School of Law. He also attended the Harvard Business School's Advanced Management Program. Noall is a trustee of the Council on World Affairs and the Fund for the Future of Shaker Heights and is on the Advisory Board of the Cleveland Play House. Formerly he was a trustee of the Cleveland Ballet and DanceCleveland. Noall and his wife, Colleen, have two grown sons and live in Cleveland. JAMES W. WERT Vice Chairman and Chief Financial Officer, Society Corporation; Vice Chairman, Society National Bank James W. Wert is the executive responsible for Society's Finance Center, which includes the financial planning, analysis and control, treasury, and investment and funds management functions of the corporation. He has also recently assumed oversight responsibility for the trust and investment management business of Society Corporation. Wert joined Society Corporation as vice president-investments in 1976. He was appointed senior vice president in 1979 and executive vice president in 1987. In May 1990, he was elected vice chairman of the corporation. Wert assumed the additional title of chief financial officer in August 1990. Wert earned his B.A. degree with high honors in finance from Michigan State University in 1971. He also attended the Kellogg Graduate School of Management at Northwestern University from 1971-1975 while employed in Chicago and completed the Stanford University Executive Program in 1982. Since joining Society, Wert has held a variety of executive management assignments involving portfolio and funds management, strategic planning, corporate banking, investment banking, and financial analysis, planning and control. His community involvement includes serving as trustee or director of the following organizations: The Achievement Center for Children, Bluecoats, the Cleveland Chapter of the American Red Cross, the Cleveland Development Partnership, Dyke College, Education Television Association of Greater Cleveland (WVIZ), Laurel School, St. Luke's Hospital Association and the United Cerebral Palsy Association of Greater Cleveland. Wert, his wife Candy, and their two children live in Pepper Pike. -0- 11/4/91 /CONTACT: John Fuller of Society Corporation, 216-689-8140/ (SOCI) CO: Society Corporation ST: Ohio IN: FIN SU: PER KK -- CL018 -- 0869 11/04/91 16:06 EST
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|Date:||Nov 4, 1991|
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