There will be no chief executive title in the domestic agency.

Mr. Wilder gave up the chief executive title in 1986, and retired in 1990.

He also said no decision had been made on executive titles or the name of the new banking company.

To assure continuity, companies often bring in the outsider as president and he works closely with the chairman, who usually holds the chief executive title.

Hermes notes that the "executive" title is simply a psychological trick to "help insecure people feel better about themselves".

After this split, the President was no longer needed to sit in front of the legislative body, although the executive title remained in legacy.

And you know as well as I, he meant it as an executive title.

Richard R. Burnham, the chairman, added the chief executive title.

He is surrendering his executive titles immediately and will leave the company at the end of the year.

Mr. Hurlock, 66, has been chairman of the firm's management committee, the chief executive title until now, for 20 years.