Midland and Crocker Make Appointments

Midland Bank Group and Crocker National Corp., parent of Crocker National Bank, on Wednesday moved to streamline their operations domestically and abroad now that London-based Midland owns 100% of Crocker’s stock.

Midland’s operations in the United States will be managed by Crocker Chairman Frank V. Cahouet, who is also a senior executive officer of Midland and a member of its board. In turn, Crocker’s overseas operations will now be managed as part of Midland’s international division, which is headed by Herve de Carmoy.

“We are trying to make our operations more efficient by eliminating the duplication,” a spokesman for San Francisco-based Crocker said Wednesday. Midland completed its purchase of Crocker’s stock in May.

Crocker and Midland will, however, maintain their respective branch offices in London and New York.

Midland also announced that Herbert H. Jacobi, head of Midland’s investment bank in Germany, will join Crocker’s board and help Cahouet develop Midland’s U.S. operations.