MEMPHIS, Tenn., March 28 /PRNewswire-FirstCall/ -- Gary L. Lazarini
announced today that he will retire effective April 30, 2002, following a
42-year career with National Bank of Commerce, its holding company, National
Commerce Financial Corporation (NYSE: NCF) and NBC Capital Markets Group,
Inc., NBC's broker/dealer subsidiary.
Lazarini, 60, most recently served as executive vice president of NCF and
chairman of NBC Capital Markets Group. In his dual roles, he has been
responsible for management of the investment portfolio and liability cost for
NCF; the coordination and development of asset/liability strategies and
implementation; and management, sales and administration of NBC Capital
Markets' broker/dealer services.
Admitting retirement was a tough decision requiring considerable thought
and some reservations, Lazarini said, "When a man reaches the changing points
of his lifelong working career, he reflects on the worth of it. I can truly
say how fortunate I have been to have had the many opportunities and the broad
learning experiences I received during my tenure with this bank. These things
have afforded me the advantage of enjoying an early retirement at the age of
60."
"Gary has been a tireless contributor and leader for more than 40 years,"
said Thomas M. Garrott, NCF chairman. "He helped found the bank's
broker/dealer business and his asset/liability management through the years
has significantly contributed to our company's financial performance. Much of
this company's success is a direct result of the efforts of Gary Lazarini. I
am happy for him personally, but will miss him as a colleague."
NCF Chief Executive Officer Ernest C. Roessler added, "Gary's
contributions to the company are significant. In the early '70s, NBC's
investment division had annual revenues of about $1 million. Last year, a
record year, NBC Capital Markets posted revenues in excess of $51 million.
That is a great testimony to Gary's leadership, business acumen and focus on
shareholder value, all of which he instilled in those he has taught and
managed. Most recently, Gary played a pivotal role in successfully
integrating and restructuring the portfolios of our two merged banks."
Lazarini joined National Bank of Commerce in 1960 while a full-time
student at Christian Brothers University, working night shifts as a key-punch
operator in data processing. Upon graduation from CBU, he joined the bank's
management training program from which he entered the investment division in
1966 as assistant cashier. Rapidly moving up the ranks, he was elected
assistant vice president and assistant manager in 1968, vice president and
director in 1969, first vice president in 1974, senior vice president and
division director in 1976 and executive vice president in 1992. In March 2000
he was promoted to executive vice president of the holding company.
A native Memphian, Lazarini is a graduate of the American Banker's
Executive Leadership Program at the Wharton School of Finance at the
University of Pennsylvania and the Stonier Graduate School of Banking at
Rutgers University. For many years, he served as a guest lecturer at the
University of Mississippi Banking School. He is a former member of the board
of directors at Christian Brothers University, St. Francis Hospital and St.
Agnes Academy.
SOURCE National Commerce Financial Corporation
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Related links:
http://www.ncfcorp.com
CONTACT:
M.J.A. "Jekka" Pinckney of National Commerce
Financial Corporation, +1-901-523-3525
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