Salomon Smith Barney has announced that Eric Medow has rejoined the firm as a managing director focusing on telecommunications in the mergers and acquisitions group.
He is based in New York and reports to Tom King, Gregg Polle, and Hal Ritch, global co-heads of mergers and acquisitions for the Citigroup Inc. unit.
Mr. Medow held a similar position at Carlyle Group, a Washington global private investment firm, where he worked for two years.
Before that he had been an investment banker in the mergers and acquisitions and telecommunications groups at Salomon Smith Barney and still earlier at Salomon Inc., which he joined in 1990. (Travelers Group bought Salomon in 1997 and merged it with its Smith Barney unit.)
Morgan Stanley Dean Witter & Co. in New York has hired Richard Foster, the global head of the financial services practice at Booz, Allen & Hamilton, for the newly created job of global marketing and strategy officer for its investment banking division.Mr. Foster was also named a managing director of the company.
He was a partner at Booz Allen. He joined the McLean, Va., management and technology consulting firm in 1991, when it bought his previous employer, Spicer & Oppenheim Consultants.
Deutsche Banc Alex. Brown has hired Karim Zia, a senior equity analyst for the U.S. cable and satellite sector at Credit Suisse First Boston Corp., to fill a similar role in its own U.S. equity research team.Mr. Zia joined CS First Boston last year, when Credit Suisse Group bought Donaldson, Lufkin & Jenrette Inc., for which he had worked for six years.
Deutsche Banc Alex. Brown is a subsidiary of Deutsche Bank AG.
First Union Corp. and Wachovia Corp. have named seven regional presidents for North Carolina and South Carolina banking operations of the company their merger would create.
First Union is scheduled to buy Wachovia this fall and adopt its name.
The new regional presidents would be five Wachovia executives - Jack O. Clayton, Charles T. Cole Jr., Paul G. Grube, Rebekah M. Lowe, and David H. Parker - and two First Union executives - Kendall K. Alley and Roberts G. Hoak.
They would all report to Will B. Spence, who would become the Carolinas chief executive officer and be based in Winston-Salem, N.C. He is currently Wachovia's CEO for the region.
Mr. Cole, Wachovia's regional executive for Columbia and coastal South Carolina, would retain his job. Mr. Grube, its regional executive for Charlotte and western North Carolina, would be in charge of the greater Charlotte area.
Mr. Clayton, Wachovia's regional executive for eastern North Carolina, would be in charge of Raleigh, Durham, and Chapel Hill.
Ms. Lowe would become president of western North Carolina, including Asheville. She is currently managing Wachovia's integration of Republic Security Financial Corp. of West Palm Beach, Fla., which it bought in February.
Mr. Parker, Wachovia's regional executive for the upstate South Carolina, would become the regional president for eastern North Carolina.
Ms. Alley, First Union's regional president for northern South Carolina, which includes Greenville and Spartanburg, would be president for upstate South Carolina (a market whose borders have yet to be defined but which includes those two communities).
Mr. Hoak, who is in charge of eastern South Carolina at First Union, would become the Piedmont regional president.