THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Thursday, October 26, 1995 TAG: 9510260500
SECTION: BUSINESS PAGE: D3 EDITION: FINAL
TYPE: Digest
LENGTH: Short : 23 lines
Signet Banking Corp. has tapped Malcolm S. McDonald, its president and chief operating officer, to succeed Robert M. Freeman as chief executive officer next April. The Richmond-based parent of Signet Bank said Freeman will continue to serve as chairman until he takes early retirement from the company in December 1996. Freeman, 54, will remain on Signet's board of directors. McDonald, 57, will become CEO after the company's annual meeting next April and will take over as chairman when Freeman steps down, Signet said. In addition, T. Gaylon Layfield III, senior executive vice president for Signet's consumer banking unit, will succeed McDonald as chief operating officer in April and will become president in December 1996. (Staff) by CNB