Tuesday, July 1, 2014

Former BofA treasurer named to CommunityOne chairmanship

Charlotte-based Communityone Bancorp has named former Bank of America treasurer J. Chandler Martin to be its new board chairman after the executive previously in the role left for a bank in New York.

Austin A. Adams is leaving to become chairman of First Niagara Financial Group, a $38 billion bank in Buffalo. Adams is a former First Union chief information officer who ultimately took a similar role at JPMorgan Chase before retiring in 2006.

He was part of the group of former First Union and Bank of America executives that first sought a bank charter before becoming part of the new management team at CommunityOne during a 2011 recapitalization. 

Banking laws prevent people from serving on two bank boards at a time.

Martin, 63, has been on the CommunityOne board since that 2011 shakeup. He retired as treasurer at Bank of America in 2008, before returning for several months to help the bank integrate risk management as it acquired Merrill Lynch.