Magazine article American Banker

Executive Changes

Magazine article American Banker

Executive Changes

Article excerpt

MIDDLE ATLANTIC

JPMorgan Chase & Co. of New York has hired Neil Sherman, the head of global prime brokerage sales at Lehman Brothers, as a managing director covering hedge fund clients in its investment banking business.

Mr. Sherman will advise on mergers and acquisitions, financings and refinancing, capital raising, and initial public offerings in the hedge fund industry. He will also work to broaden the company's relationships with the hedge fund industry in areas such as treasury services and equity and fixed-income sales and trading, a JPMorgan spokesman said.

He will report to John Simmons, the head of specialty finance and hedge fund coverage.

In 23 years at Lehman, Mr. Sherman had also been the head of equity capital markets for various industry sectors and the head of its preferred stock and hybrid capital securities origination group.

WEST

Union Bank of California in San Francisco has expanded the duties of executive vice presidents Steven L. Glaser and John C. Erickson.

Mr. Glaser has been put in charge of retail banking. He will remain the head of the bank's consumer asset management division.

Mr. Erickson has been put in charge of the bank's wealth management and corporate capital markets divisions. He will remain the head of commercial banking.

Both executives will report to Philip B. Flynn, the chief operating officer and a vice chairman of the unit of UnionBanCal Corp., which is mostly owned by Mitsubishi UFJ Financial Group Inc.

Union Bank of California has also promoted Mary A. …

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