Chase Asset Management strengthens Equity Management Team.

NEW YORK--(BUSINESS WIRE)--Aug. 21, 1996--Chase Asset Management Inc. (CAM), the institutional investment management arm of Chase's Global Asset Management & Private Banking Division, announced today the appointments of Pamela Carlton as director of U.S. Equity Research and Terry Goodwin as Director of Global Equity Trading, both industry recognized investment professionals.

As Director of Equity Research, Carlton will be responsible for overseeing U.S. equity research efforts for Global Asset Management which is responsible for managing institutional, private client and mutual fund assets.

In his new role at CAM Inc., Goodwin will be responsible for the execution of all equity trades performed by Global Asset Management. In addition, he will oversee all global equity trading functions for CAM Inc.

Carlton joins CAM Inc. from Morgan Stanley & Co., Inc., where she held senior level positions in the equity research, fixed income and investment banking divisions, before rising to her most recent appointment as Director of Global Operations for Equity Research.

Preceding her 14 year tenure at Morgan Stanley, Carlton was an attorney in the Corporate Finance practice group at Cleary, Gottlieb, Steen and Hamilton. She received a J.D. degree from Yale Law School and a master's degree from the Yale School of Management. She holds a bachelor's degree from Williams College.

Goodwin brings more than 27 years of asset management experience to Chase. Prior to joining CAM Inc., he spent five years as Head of Equity Trading at UBS Asset Management. Previously, he held a similar role with Chase Investors Management Corp. Goodwin received his master's degree from the University of New Haven Graduate School of Business and a bachelor's degree from Quinnipac College. He serves as Chairman of the National Organization of Investment Professionals and is a member of the New York Stock Exchange Market Performance Committee.

Both Carlton and Goodwin will report to David Klassen, Senior Investment Officer, Chase Equity Associates (U.S. investment management arm of CAM Inc.). Klassen said, "This announcement underscores Chase's commitment to building the resources needed to maintain a leadership position in global asset management. The expertise that Pamela and Terry bring to our equity management team will heighten our visibility in the global marketplace by contributing to the success of our institutional, mutual fund and private asset management businesses."

Chase Asset Management Inc. is structured as a group of four distinct investment boutiques that together provide a full complement of investment services for institutional and fund investors, as well as providing the research capability for private client portfolio management. Each group manages a distinct asset class: U.S. Equity, U.S. Fixed Income, International Equity and Global Fixed Income. CAM spans the globe with institutional investment management and research capabilities in New York, Hong Kong, London, Tokyo and Sao Paulo. In addition, private client assets are managed in Geneva, Singapore and Miami.

CONTACT: The Chase Manhattan Bank 

Amy Sudol, 212/789-5394

or

Edelman Public Relations

Curt Ritter/Camy Vazifdar

212/704-4521/8270