Landon, 55, joined the bank in April 2000 after serving as chief financial officer of First American Corp. in Nashville, Tenn., and before that working with the accounting firm of Ernst & Young for 28 years.

Landon was hired to head up Bank of Hawaii's risk management department. After O'Neill took over the bank in November 2000, Landon was quickly promoted to chief financial officer.

"I immediately saw how competent he was and we needed first class," O'Neill said. "Al had been a CFO at a bank roughly our size and was a great accountant. I took him out of what he was doing and put him into the CFO job."

In his new role, Landon will add risk management, human resources, technology and operations to his responsibilities. He will continue to oversee finance, legal and corporate sourcing. O'Neill previously held the title of president along with chairman and CEO.

O'Neill and his management team have been praised for boosting the bank's performance in the past three years. They did it primarily by cleaning up the loan portfolio, selling off most businesses outside Hawai'i and putting in a new technology system.

The share price has climbed steadily since O'Neill took over, from around $11 to $41.18 yesterday. The bank expects to show a profit of $131 million this year, up from $117 million in 2001.

"O'Neill and the team have done a great job over the last three years," said Michael McMahon, an analyst with investment bank Sandler O'Neill & Partners in San Francisco.

Asked why he didn't fill the No. 2 position with a Hawai'i-born and educated employee, attributes highlighted by rival First Hawaiian Bank in recent promotions, O'Neill said: "I just don't think that way. To me that sort of thing has an element of patronization that I'm uncomfortable with.

"I think people from Hawai'i are every bit, on average, as good as anyone else. Suggesting that somehow we have to use that as sort of a determinant of our appointments, I find quite difficult to get my head around. I'm uncomfortable with the notion that needs to be top of mind.

"What I try and do is get the best person for the job and I think Al is the best person for this job, so I'll leave it at that."

Landon has a degree in accounting from Iowa State University. He is a director of the University of Hawai'i Foundation and Hawaii Medical Services Association.

"I'm proud to be part of a team that has accomplished so much in the last three years," Landon said in a statement. "It's going to be an exciting year ahead."

Landon ran his first marathon Sunday, finishing among the top 500 from Hawai'i with a time of 4 hours, 1 minute and 17 seconds.