Out Takes

Hahn, Avital Louria
June 2003
Investment Dealers' Digest;6/30/2003, Vol. 69 Issue 26, p4
Trade Publication
The article reports on various developments in the investment banking industry in the U.S. West Virginia Inc. attorney general Darrell McGraw filed a lawsuit against the 10 Wall Street, New York City-based firms that signed the global settlement, seeking $300 million in damages on behalf of West Virginia residents who lost money due to tainted research and conflicts of interest. Bank of America's more than 130,000 employees are entitled to stock option payouts worth about $580 million, the bank said. Employees can immediately exercise about 35 million options, which means full-time workers can rake in $3,300 each and part-timers about $1,650 each. Deutsche Bank hired Francis Kelly as a managing director and head of government affairs for the U.S. At Deutsche, Kelly will be based in Washington D.C. The company Morgan Stanley hired William Ennis, former CEO of Evergreen Investments, as president of global services for its investment management division. Bear Stearns Co. hired Richard Marin as chairman and CEO of its asset management operations. He will work closely with Doni Fordyce, the unit's president.


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