Dresdner Promotes Investment Unit Exec
LONDON - Dresdner Bank said Thursday that it has promoted Alan Yarrow to vice chairman of its investment banking arm, Dresdner Kleinwort Benson.Mr. Yarrow, formerly the head of global equities, will focus on building relationships with the German bank's institutional clients from his base in London. Conor Killeen, global head of equity capital markets, and Martin Korbmacher, co-head of global equities in Frankfurt, will assume responsibility for global equities at the start of 2000.
Last month Dresdner announced it was spinning off the unit as a separate legal entity to build its capital markets and investment banking operations.
SEC to Study Behavior Of Internet Investors
NEW YORK - The Securities and Exchange Commission plans a study of on-line investor behavior, Commissioner Laura S. Unger said Thursday.Ms. Unger, the keynote speaker at a Glasser LegalWorks seminar, said a portion of the SEC's $10 million budget will be earmarked for this purpose, pending final approval. She advocated the study in an SEC report on on-line brokerage that was published last month.
Ms. Unger also said she plans to set up working groups with the New York Stock Exchange and National Association of Securities Dealers Inc. to deal with issues pertaining to investor suitability in the on-line context. Suitability requirements, triggered when a broker makes a recommendation, apply on-line, but there are many gray areas.
Separately, Brian J. Lane, departing director of the SEC's corporate finance division, said the agency plans to issue an interpretive release early next year giving guidance to issuers and underwriters on communications with investors during public offerings.
- Cheryl Winokur