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CONTINENTAL BANK NAMES FORMER J.P. MORGAN EXECUTIVE TO HEAD DERIVATIVES RESEARCH

 CHICAGO, Sept. 9 /PRNewswire/ -- Continental Bank (NYSE: CBK) today announced the appointment of Craig W. Gustafson to the newly created position of head of research for financial risk management and trading products. Based in Chicago, Gustafson will direct Continental's research into the pricing and risk control of derivative instruments.
 Gustafson also will work with Continental's risk management team to develop structured derivative products to help the bank's corporate and institutional customers manage their exposure to changes in interest- rate, commodity, foreign currency and equity markets. He will report to Philippe Comer, managing director of risk management research, structuring and systems.
 Gustafson joins Continental from J.P. Morgan & Co. Incorporated in New York, where he was most recently vice president and head of foreign exchange option research in the derivatives research group. Previously, Gustafson was with the quantitative research department of O'Connor and Associates in Chicago.
 "We're obviously delighted to attract someone of Craig's caliber," said Ken Cunningham, managing director of financial risk management and trading products. "His expertise adds significantly to our research capabilities and will enable us to provide our corporate and institutional customers with more innovative hedging strategies than ever before."
 Gustafson obtained a B.S. degree in physics from the Massachusetts Institute of Technology, an M.S. in physics from the California Institute of Technology, and a Ph.D. in theoretical and applied mechanics from the University of Illinois's College of Engineering.
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 /NOTE TO EDITOR: Continental Bank focuses on meeting the capital and financial management needs of public and privately held businesses nationwide. The bank provides business financing, specialized financial and operating services and private banking services. Continental also engages in equity finance and investing, as both principal and arranger, and international trading./
 /CONTACT: Lisa M. Hewitt, 312-923-5166, or William C. Murschel, 312-923-5130, or Edgar P. McDougal, 312-923-5200, all of Continental Bank/
 (CBK)


CO: Continental Bank ST: Illinois IN: FIN SU: PER

MP -- NY075 -- 0434 09/09/93 15:41 EDT
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Publication:PR Newswire
Date:Sep 9, 1993
Words:328
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