CALIFORNIA - News from April 19, 1987
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BankAmerica named three new directors, one outsider and two BankAmerica executives, bringing the number of board members to 17.
The new outside director is Peter B. Bedford, 49, president of Bedford Properties Inc., a Lafayette, Calif., real estate development and investment firm. Bedford is the first outsider named to the board since 1982, when former Defense Secretary Robert S. McNamara and Kaiser Aluminum & Chemical Chairman Cornell C. Maier joined the BankAmerica board.
The two BankAmerica officials who were given board seats are Robert W. Frick, 49, vice chairman and head of Bank of America’s World Banking Group; and Richard M. Rosenberg, 56, vice chairman and head of Bank of America’s California Banking Group. Rosenberg joined the company last week from Seafirst Corp., a BankAmerica banking subsidiary in Seattle.
The three new directors will begin their duties immediately and will also stand for election at the BankAmerica annual shareholders meeting on May 28.
BankAmerica is the parent of Bank of America, the nation’s second-largest bank.
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