Changes of the Week

P: David M. Kennedy, 51, vice president of the Continental Illinois National Bank and Trust Co. of Chicago, ninth largest bank in the U.S. (total deposits: $2,473,000,000), was elected president to succeed Carl A. Birdsall, who died three weeks ago. The Mormon son of a Utah rancher, Dave Kennedy graduated from Weber College ('28) in Ogden, Utah, then served the customary two-year term as a Mormon missionary in England. Afterwards he joined the Federal Reserve as a technical assistant to the director of bank operations, spent nights studying law and economics at George Washington University. In 16 years Kennedy moved up through the Federal Reserve's research and statistical division, became special assistant to then Chairman Marriner Eccles. After the war he joined Continental Illinois, a year later became a vice president in the bond department.

P: Maurine Jacobs, 42, vice president and cashier of Dallas' National Bank of Commerce (total deposits: $15,578,110), became president, thus joined the small group of women bank presidents. She succeeded Jean Baptiste Adoue Jr., former Dallas mayor, who died of a heart attack three weeks ago. In his will Adoue left Banker Jacobs his entire holding of 676 of the bank's 1,500 outstanding shares of stock; previously she had held only 35 shares of her own. A native of Dallas, she graduated from the Dallas chapter of the American Institute of Banking, began her banking career with the National Bank of Commerce as a secretary to the cashier, rose through the ranks.

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