Jeffrey L. Newman has joined First Interstate Bancorp, Los Angeles, as managing director of the banking company's portfolio lending services unit.
Mr. Newman will carry the title of executive vice president and report to Vernon C. Kozlen, manager of the banking company's private client services division.
In his new post, Mr. Newman will oversee securities lending activities, which include trading and cash management.
Specifically, the portfolio lending unit, which manages $19.6 billion of assets, lends securities from clients' portfolios to brokers. These loans generate fees for clients and boost overall return for their portfolios.
A graduate of the University of Southern California and of San Francisco State University's graduate business school, Mr. Newman returns to the West Coast after spending 11 years in New York City, where he managed the securities lending division at Bank of New York and Bankers Trust Co.
The bank's trust and private client services group serves institutional clients and affluent individuals and families.
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Boston Private Bank and Trust Co. has appointed Lynn Thompson Hoffman to the company's board of directors.
The Boston-based bank specializes in providing investment and private banking services to both institutional and individual clients.
Mrs. Hoffman is founder and president of Atherton Cos., an investment management firm. Earlier, she had been a vice president with Blyth Eastman Paine Webber, specializing in corporate finance and mergers and acquisitions. She holds a law degree from Boston University.
