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RICHARD E. STIERWALT NAMED CHAIRMAN OF CONCORD HOLDING CORPORATION; WILLIAM B. BLUNDIN NAMED VICE CHAIRMAN

 NEW YORK, Aug. 17 /PRNewswire/ -- The Board of Directors of Concord Holding Corporation announced that Richard E. Stierwalt, chief executive officer, has been given the additional title of chairman of the board.
 The board also announced that William B. Blundin, formerly president, has been named vice chairman of the board. The title of president has been retired.
 Messrs. Stierwalt and Blundin were among the co-founders of Concord Holding Corporation in 1987. Under their leadership, it has become the largest administrator of bank-related mutual funds with more than $30 billion in mutual fund assets under administration. Some of the country's largest banks are Concord clients.
 Mr. Stierwalt co-founded Concord after a 12-year career in banking. Most recently, he served as first vice president and divisional administrator of the Financial Management and Trust Services Group of Security Pacific National Bank in California.
 He began his banking career with the Indiana National Bank in 1975 and also worked for Merchants Bank of Indianapolis, where he created the Security Custody Department and was trust operations manager, before joining Security Pacific in 1983.
 Mr. Stierwalt is a graduate of the University of Indianapolis and also attended the Stonier Graduate School of Banking at Rutgers University and OPM at Harvard University.
 Mr. Blundin was senior vice president of Shearson Lehman Hutton before leaving to form Concord in 1987. At Shearson he was responsible for establishing the Institutional Funds Group (IFG) in 1978. Under his direction IFG became the second largest institutional vendor in the country, serving 500 bank clients. He was also involved in establishing seven proprietary fund relationships with major banking institutions. He joined Shearson's predecessor firm, Loeb Rhoades & Company, in 1970.
 A graduate of Washington & Lee University, Mr. Blundin attended the Graduate School of Business Administration of the University of Virginia.
 -0- 8/17/93
 /CONTACT: Laura Berger, or Stan Appenzeller both of Arlen Financial Communications, 212-966-5100, for Concord Holding Corporation/


CO: Concord Holding Corporation ST: New York IN: FIN SU: PER

LD -- NY004 -- 3409 08/17/93 09:01 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
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