Security Pacific's chief economist leaves the L.A. banking industry for a Texas oil giant.

Security Pacific's chief economist leaves the L.A. banking industry for a Texas oil giant

Chief economist Kathleen B. Cooper left Security Pacific National Bank Sept. 14 to become the No. 1 economist for Exxon Corp. in Dallas.

The Dallas native returns home with her move from

"I've been working in banking for 20 years and it's been a challenge . . . but it was attractive to work in a different industry," said Cooper last week.

Cooper balked at highlighting her nine-year career -- the first five years as national and financial economist -- advising the Los Angeles bank's top brass.

"I guess I'm a little bashful when it comes to that." With a little prodding she adds, "I feel as though I've made a good contribution towards the planning decisions over the last few years, giving good advance warnings of difficulties ahead, particularly with the commercial real estate market."

Security Pacific has appointed Senior International Economist Ronald L. Solberg acting chief economist until her replacement is selected.

So how is a big-league economist handicapping the future?

"I don't believe we are in a recession now, but we are skirting dangerously close to one," she says. "But if employment growth turns down, that's a sure sign of recession." She predicts interest rates, in general, will fall by half a percentage point within three months.

The Granada Hills resident moves south with her boys, ages 10 and 14, and husband, a calculus teacher and basketball coach at Buckley School in Sherman Oaks.

She'll probably quit her board post with SRO Housing Corp., a non-profit provider of housing for low-income and homeless people. But she'll stay a trustee at Scripps College in Claremont.