PERSONNEL: Changes of the Week, Jun. 8, 1953

¶ Frank N. (for Nicholas) Belgrano Jr., 58, president of the First National Bank of Portland, was appointed chairman of California's Transamerica Corp., replacing James F. Cavagnaro, 69, who retired. Apparently because new Chairman Belgrano was given executive powers equal to his own, Transamerica President Sam H. Husbands, 62, promptly resigned his $75,000-a-year job in a huff. Belgrano, the son of the president of San Francisco's Banca Popolare Fugazi (one of the foundations of A. P. Giannini's Bank of America empire), was a $35-a-week messenger for the Bank of California in 1916, served as a 2nd lieutenant in World War...

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