B of A’s Toupin to Retire

Arthur V. Toupin, vice chairman of BankAmerica Corp. and senior administrative officer of Bank of America, said Thursday that he will take early retirement later this year, “fulfilling a longstanding intention.”

At the same time, the San Francisco-based bank holding company announced a management realignment to reflect Toupin’s departure.

A successor has not yet been named. Toupin, who will turn 64 in October, will not stand for reelection to the boards of the bank and holding company April 30 but will remain an officer until sometime later this year, a bank spokesman said. Toupin joined the bank in 1949 as a lawyer. He left in 1960 to join another company but returned to Bank of America in 1969 as a senior vice president.

He was named senior administrative officer of the bank in 1976 and has had a variety of responsibilities since, most recently as head of investment, fiduciary activities and communications. He was named vice chairman of the board in 1978.

Toupin is also chairman of Montgomery Street Income Securities Inc., a San Francisco investment company for which Bank of America is an adviser, the spokesman said.

“Art Toupin’s contributions to the vitality and success of Bank-America go far beyond his organizational responsibilities, and we will continue to draw value from those contributions for years to come,” Samuel H. Armacost, president and chief executive, said in a statement.

The realignment of units that formerly reported to Toupin is effective May 1. John R. Vella, executive vice president-BankAmerica Capital Markets group, will oversee BA Investment Trust Co. and Securities Services-Trust. James P. Miscoll, executive vice president and executive officer for Southern California, will head corporate real estate and corporate services.

Corporate communications, headed by Senior Vice President Ronald E. Rhody, will report to Armacost. Advertising and contributions-social policy will report to Rhody.