CHARLOTTE, N.C., Sept. 26 /PRNewswire/ -- First Union (NYSE: FTU) has
created a new line of business to provide a more strategic focus and greater
emphasis toward its real estate customers. Mike Slocum, currently head of
Commercial Real Estate for First Union-Florida, will lead this effort for the
company.
In his new role, Slocum will be responsible for the ongoing development,
refinement and execution of a coordinated strategy to make First Union the
preferred financial services provider for commercial real estate developers,
owners and investors. He also will be responsible for further building the
partnership with First Union's Real Estate Capital Markets Group to
effectively market those products and services to commercial real estate
clients. Slocum will relocate with his family to Charlotte.
"We're committed to being the best real estate bank on the East Coast,"
said Ben Jenkins, vice chairman and head of First Union's General Bank. "With
Mike's leadership and focus, this organizational structure will help us
provide the most proactive, comprehensive service to our real estate customers
on a local level, while fostering the collaborative partnerships needed on the
corporate level. We are extremely fortunate to have Mike leading this
effort."
Slocum, a 12-year First Union veteran, has been in Florida for two years
and previously was head of the company's commercial real estate effort in
Georgia. Slocum has spent the majority of his 21-year banking career in
commercial sales. He has a Bachelor of Arts degree in Economics from Colgate
University.
Slocum replaces Dick Carling, who heads commercial real estate
relationship management for First Union. Carling will retire at the end of
the year.
"Dick has been a tremendous asset and team player to this business and to
this company," Jenkins said. "Throughout his 33-year banking career, he has
played a key role in establishing greater consistency in our company's sales
and risk management processes, and he's helped lay the foundation for creating
a singular business approach to the real estate market. Dick will be missed
greatly, and we wish him the best of luck."
About First Union Corporation
First Union, with $258 billion in assets and stockholders' equity of $14
billion at June 30, 2000, is a leading provider of financial services to 15
million retail and corporate customers throughout the East Coast and the
nation. The company operates full-service banking offices in
12 East Coast states and Washington, D.C., and full-service brokerage offices
in 44 states and international offices worldwide. Online banking products and
services can be accessed through http://www.firstunion.com
SOURCE First Union Corporation
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Related links:
http://www.firstunion.com
CONTACT:
Karen Kitzmiller of First Union Corporation,
704-374-2026
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