Turnaround management firm Jay Alix & Associates announced last week that it had appointed Deborah Hicks Midanek as a principal.

A former director of Drexel Burnham Lambert, Ms. Midanek was also the co-founder of Solon Asset Management, a $500 million fixed-income investment advisory firm.

Most recently, she was chief executive officer of Standard Brands Paint Co.

In her new role at Jay Alix, Ms. Midanek will focus on financial restructurings and turnarounds in the financial services and consumer manufacturing industries. She will be based in New York.

Before her time at Solon, Ms. Midanek was managing director of the $1 billion mutual fund business at Montgomery Asset Management.

Before Drexel Burnham's bankruptcy in 1990, Ms. Midanek was a founding member of the firm's interest rate products group. She was also a Drexel director and chairwoman of its equity committee during the firm's reorganization.

"During my career I have been involved in building, growing, and sometimes taking apart companies," Ms. Midanek said. "My experience in the financial services sector will benefit JA&A and its clients dealing with quickly changing capital markets."

- Omri Ben-Amos

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