The on-line brokerage DLJdirect announced Tuesday that it had appointed four executives, including a former head of BankAmerica's brokerage unit, to newly created posts.
Robert D. Flowers Jr., 54, was named director of Jersey City-based DLJdirect's select client group, which targets clients with $1 million or more to invest. He will be based in DLJdirect's Charlotte, N.C., office, which was opened in January, a spokeswoman said.
Mr. Flowers was president and chief executive officer of BankAmerica's retail brokerage until he resigned in 1997. He later joined Transamerica Corp.'s insurance unit as a sales manager for the bank and broker-dealer channel.
DLJdirect, a unit of the New York investment bank Donaldson, Lufkin & Jenrette Inc., also named Glenn Tongue president. Mr. Tongue, 40, was previously an investment banker in the parent's securities unit. K. Blake Darcy is chief executive officer of DLJdirect.
Also named to DLJdirect on Tuesday were Michael Hogan as senior vice president and general counsel and Linda Finnerty as vice president and director of public relations. Mr. Hogan, 48, was hired from Lehman Brothers; Ms. Finnerty, 52, worked at Delaware Investments.
Beyond confirming the posts were all newly created, Ms. Finnerty declined to comment or make any executives available for comment, citing a DLJ stock registration pending before the Securities and Exchange Commission. DLJ plans to issue a new class of securities, or tracker stock, to help finance expansion of its on-line brokerage unit.