Fleet Capital President and CEO Teich to retire in June
Atlanta Business Chronicle
Fleet Capital, the secured lending subsidiary of FleetBoston Financial, announced that its president and CEO, Irwin Teich, will retire effective June 29.
James G. Connolly, who currently serves as president of the company's Northeast division, will become president and chief executive officer.
Teich, 63, joined a predecessor company in 1973 as vice president and regional manager of the Los Angeles office. He was later named senior vice president, Eastern Division manager and president of the Business Finance Division. In 1994, he was named president of Barclays Business Credit; and in 1999, he became CEO of Fleet Capital Corporation. A graduate of Roosevelt University, Teich served as the president of the Commercial Finance Association, the industry's leading trade organization, in 1997, and Chairman in 1998. He resides in Atlanta, Georgia.
Connolly, 40, has held various management positions within Fleet's commercial banking business since joining the company in 1986. As division president for Fleet Capital's Northeast division, he has been responsible for approximately 200 employees, located in offices from Philadelphia to Boston, and $3.5 billion in outstanding loans. Connolly also serves as chairman and chief executive officer for FleetBoston's franchise in Connecticut. He will continue to serve in that role and be based in that state.
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