ABN AMRO Hires Middle Market Institutional Sales Group.

Business Editors

CHICAGO--(BUSINESS WIRE)--Dec. 21, 2000

ABN AMRO's Equity and Investment Banking Group today announced the hiring of a Middle Market Institutional Sales Group to offer U.S. equities research, with selling efforts focused on Middle Market institutions and hedge funds in the U.S.

The Group will be based in New York and report to Michael Cashel, head of ABN AMRO's Institutional Research Sales in the Americas. Consisting of nine professionals, all formerly with Donaldson Lufkin & Jenrette (DLJ), the group will be co-managed by Managing Directors Mitchell Lester and Andrew Lester who bring a combined 38 years of selling experience at DLJ. Sales members will include Director Marc Silver and Vice President James Callow. In addition, Vice President Diane Brigande will head a four-person support team. Also, William Morris will join the Group in institutional sales trading as Managing Director.

The Middle Market Institutional Sales Group is a component of ABN AMRO's Wholesale Clients business, which is part of an initiative launching in January 1, 2001 that will bring together the bank's global investment banking activities with its international corporate banking operations. The initiative will create one of the largest European-based wholesale banking businesses, with current revenues of EUR 6 billion and approximately 10,000 clients, 20,000 staff and operations in more than 50 countries.

Netherlands-based ABN AMRO Bank N.V. is one of the world's largest banks with total assets of $511 billion and more than 3,500 locations in over 70 countries and territories. In North America, ABN AMRO is headquartered in Chicago and has $171 billion in assets and more than 18,000 employees with wholesale banking offices in 13 cities in the U.S., Canada and Mexico. Major North American subsidiaries include ABN AMRO Asset Management (USA) LLC; LaSalle Bank in Chicago; Standard Federal Bank in Michigan and EAB in New York.