BANKING & FINANCE - July 20, 1991

McQuarrie Announces Retirement: After 34 years of sharing the helm at Downey Savings & Loan, Gerald H. McQuarrie said he will retire as chief executive at the end of the month. McQuarrie, 70, who co-founded Downey with Maurice L. McAlister in 1957, will continue as a director and in his newly appointed position of vice chairman. McAlister is chairman and president. The thrift does not plan to immediately fill the chief executive post, said John Dennis, a spokesman for the Newport Beach thrift.