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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
February 3, 1997
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(Date of Report)
NATIONAL CITY CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-10074 34-111088
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(State or other jurisdiction (Commission IRS Employer
of incorporation) File Number) Identification No.)
1900 East Ninth Street, Cleveland, Ohio 44114
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(Address of principal executive offices) (Zip Code)
(216) 575-2000
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(Registrant's telephone number, including area code)
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Item 5. Other Events
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On February 3, 1997, the Registrant issued a Press Release announcing
that William R. Robertson, President of Registrant, will be retiring effective
July 31, 1997.
Reference is made to the News Release, dated February 3, 1997, a copy
of which is filed as Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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a) Financial Statements of business acquired:
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None.
b) Pro forma financial information:
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None.
c) Exhibits:
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99.1 News Release, dated February 3, 1997 incorporated herein
by reference.
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Signatures
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: February 3, 1997
By /s/ David L. Zoeller
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David L. Zoeller
Senior Vice President
and General Counsel
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[NATIONAL CITY(R) LOGO] NATIONAL CITY CORPORATION
P.O. Box 5756
Cleveland, OH 44101-0756
News Release
FOR MORE INFORMATION CONTACT:
Mary H. Griffith
Senior Vice President & Director
Marketing Communications
(216) 575-2728
FOR IMMEDIATE RELEASE
PHOTO AVAILABLE
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NATIONAL CITY CORPORATION PRESIDENT TO RETIRE
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CLEVELAND, OHIO February 3, 1997-National City Corporation (NYSE: NCC)
announced today that its president, William R. Robertson, intends to retire July
31, 1997, following more than three decades of service to the Cleveland-based
holding company. Mr. Robertson, 55, has been president of the Corporation since
October 1995, after serving as deputy chairman since 1987 and a director since
1988.
National City will continue to benefit from Mr. Robertson's valued counsel,
as he remains a member of the Board of Directors. Mr. Robertson will stand for
reelection to the board at National City's Annual Meeting of Stockholders on
April 14, 1997.
Mr. Robertson worked side-by-side with Chairman and CEO David A. Daberko
and retired Chairman Edward B. Brandon on the successful transition of National
City's leadership over the last three-and-a-half years. "Bill leaves behind a
company that has achieved record earnings; saw a rise in stock price of
approximately 75 percent over the last two years; completed the acquisition and
rapid integration of National City Bank of Pennsylvania; successfully launched
National Processing, Inc.'s initial public offering (NYSE:NAP); and, established
the Private Client Group," noted Mr. Daberko.
"It has been an honor and a privilege to serve National City," Mr.
Robertson said. "I believe I have fulfilled my promise to Ed Brandon and Dave
Daberko to remain with National City through the leadership transition that has
now been successfully completed."
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"While I would have liked for Bill to stay on with the Corporation, I
respect his decision to move on to other endeavors," Mr. Daberko explained. "He
has blessed our company with his integrity, financial acumen, capacity for
strategic leadership, and sense of humor. All of us will miss his perspective
and involvement in the daily leadership and direction of National City."
There are no immediate plans to name a replacement.
Over the last 20 years, Mr. Robertson has held executive posts at National
City Bank and National City Corporation. After joining the bank in 1964, he
served as a lending officer and became head of the Metropolitan-Corporate
Banking Division in 1978. In 1980, he was asked to form National City's first
Strategic Planning Division and in 1982, was named chief financial officer. As
CFO, he oversaw the acquisitions of National City Bank of Columbus, National
City Bank of Kentucky, and its affiliate, National Processing, Inc. He was named
deputy chairman in 1987.
Mr. Robertson directed National City's Operations and Information Services
Division as the organization consolidated each of its acquired companies onto a
single system. In addition, he has overseen a number of other administrative
functions, including corporate human resources, audit, law, and marketing
communications.
Under Mr. Robertson's leadership, National City's fee income
businesses-Trust, National Processing, National City Mortgage Co., and National
City Stored Value Systems-have grown to represent approximately 50 percent of
National City's overall fee revenues. As the senior trust executive for the last
10 years, he assumed responsibility for its reorganization and the recent
formation of the Private Client Group.
Profile of William R. Robertson
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A native of Schenectady, New York, Mr. Robertson received an A.B. degree in
economics from Colgate University in 1964 and an M.B.A. degree in finance from
Case Western Reserve University in 1967.
Mr. Robertson joined National City in 1964. Since then, he has held various
management positions in corporate banking, and executive positions in finance
and administration, serving as chief financial officer of the Corporation from
1982 to 1989. He was named deputy chairman and
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a member of the Office of the Chairman in 1987. He was named president of the
Corporation in 1995.
In addition to serving as a director of National City Corporation and
National City Bank, Mr. Robertson serves as a director of several other National
City subsidiaries. He also serves on a number of corporate boards, including
Capitol American Financial Corporation, Kirtland Capital Corporation, Execution
Services Incorporated, and National Processing, Inc., the subsidiary National
City Corporation took public in 1996.
Mr. Robertson is a trustee and officer of many civic institutions,
including The Cleveland Museum of Art, The Musical Arts Association, Saint
Luke's Hospital, The Salvation Army, United Way Services (chairman from
1995-1997), Visiting Committee for the Weatherhead School of Management of Case
Western Reserve University (chairman from 1994 to 1997), and the Western Reserve
Historical Society.
Mr. Robertson and his wife, Sarah, live in Shaker Heights, Ohio, and have
three adult children.
Profile of National City Corporation
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National City Corporation is a $51 billion diversified financial services
company based in Cleveland, Ohio. National City operates banks and other
financial services subsidiaries principally in Ohio, Kentucky, Indiana and
Pennsylvania.
