Charles Cawley, who launched acclaim agenda aggregation MBNA in Delaware afterwards a argument over absorption ante amid its ancestor Maryland National Bank and Maryland lawmakers, died Wednesday morning at his family’s home in Camden, Maine. No account of afterlife for the 75-year-old was provided.
Mr. Cawley adapted MBNA, originally a baby assemblage of Maryland National, into a bunch association that was eventually awash to Bank of America for $36 billion.
“He’s a legend,” said Francis X. Kelly, administrator of Kelly & Associates Insurance Group, a above accompaniment agent and longtime acquaintance of Cawley’s. “Charlie Cawley is apparently the best acceptable animal actuality I’ve anytime known.”
Mr. Cawley was built-in in Massachusetts and aloft in New Jersey. He was a alum of Georgetown University.
He was assassin to run Maryland National Bank’s acclaim agenda assemblage in Baltimore in 1972. But back Maryland assembly banned to change a accompaniment law capping absorption ante in the aboriginal 1980s, Maryland National confused the business to Delaware, area Mr. Cawley opened MBNA’s aboriginal address in a adapted A&P bazaar in 1982.
At the time, Maryland National’s beginning credit-card accessory active about 200 workers; MBNA went on to apply 10,500 bodies in Delaware and 1,200 in Hunt Valley. It additionally accustomed cogent operations in Maine, area Mr. Cawley continued had a summer home.
In 1991, MBNA afar from Maryland National and became an absolute company.
“Charlie ran a bound address and put MBNA on the map,” said Maryland Rep. C.A. Dutch Ruppersberger, additionally a longtime friend. “He was a visionary, a philanthropist and a gentleman.”
Baltimore Sun anchorman Scott Dance and The Wilmington News Journal anchorman Jeff Mordock contributed to this article. Read the abounding obituary from The News Journal here.
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