DATE: Thursday, June 12, 1997               TAG: 9706120437

SECTION: BUSINESS                PAGE: D2   EDITION: FINAL 

                                            LENGTH:   47 lines

LOCAL SCENE

VIRGINIA BEACH

BRICKELL ELECTED VICE CHAIR OF PUBLIC RELATIONS NETWORK: Sean Brickell was elected to a two-year term as vice chair of the Americas regional board for The Worldcom Group Inc., the world's largest network of independent public relations agencies. Brickell is president of Brickell & Associates Public Relations.

EDWARD JONES INVESTMENTS OPENS NEW OFFICE: David G. Paddock, a broker with 15 years of experience in the financial services industry, has opened an Edward Jones Investments office at 913 First Colonial Road, Suite 104.

ADVANCE MORTGAGE OPENS MAIN OFFICE: Advance Mortgage Co. has opened its main office at 410 Oakmears Crescent, Suite 103. The mortgage company will oversee its operations in Hampton Roads from this location. Advance also has an office in Newport News.

NEWPORT NEWS

MARTINEZ SELECTED AS A DISTINGUISHED NEW ENGINEER: The Hampton Roads Section of the Society of Women Engineers recognized Alma Martinez, a manager of production control for the steel fabrication division at Newport News Shipbuilding, as a 1997 Distinguished New Engineer. The award is given to five recipients nationwide by the Society of Women Engineers in recognition of their contributions to the engineering profession, SWE and other technical, professional and community organizations.

VIRGINIA

SIGNET SELLS CORPORATE TRUST BUSINESS: Signet Banking Corp. said Wednesday it agreed to sell its corporate-trust business to Bank of New York Co. Terms were not disclosed. Bank of New York will acquire about 700 bond trustee and agency relationships in the transaction, primarily for municipalities in Virginia and Maryland. Bank of New York said the acquisition would add to earnings following completion of the transaction, expected in the third quarter. Signet, a Richmond bank holding company, had been looking for a buyer for the corporate-trust division. The company said rapid consolidation of corporate trust operations is giving the big players advantages in pricing and service. MEMO: To submit an item, send it to Local Scene, The Virginian-Pilot

Business News Department, 150 W. Brambleton Ave., Norfolk, Va. 23510.

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Martinez

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