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Howard Covington to join Wasserstein Perella from SBC Warburg.

NEW YORK--(BUSINESS WIRE)--Jan. 23, 1996--Wasserstein Perella announced today that Howard Covington, a director of SBC (1) (SBC Communications Inc., San Antonio, TX, A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002.  Warburg and a leading U.K. corporate financier, will be joining the firm in London as a Managing Director of Wasserstein Perella & Co., Limited.

Covington also will become a Managing Director of Wasserstein Perella Group. His responsibilities will include the further development of Wasserstein Perella's European corporate relationships, with particular focus on U.K. and capital goods Capital Goods

Any goods used by an organization to produce other goods.

Examples of capital goods include office buildings, equipment, and machinery.
See also: Capital Expenditure, Disinvestment

Capital goods
 companies, and executing corporate finance transactions in the U.K. market for Wasserstein Perella's U.K. and international clients.

Bruce Wasserstein Bruce Wasserstein (born December 25, 1947 in Brooklyn, New York)[1] is an American investment banker and businessman. He is a graduate of the University of Michigan, Harvard Business School, and Harvard Law School, and is currently the Chairman and CEO of Lazard LLC. , chairman and chief executive of Wasserstein Perella Group, said, "We are excited that Howard Covington is becoming a senior member of our firm. Our opportunities to work with him over the years have demonstrated to us that his outstanding reputation for helping clients achieve their strategic objectives is well deserved."

"Howard is a valuable addition to our significant ongoing commitment to the U.K. and Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. ," added Jeffrey A. Rosen, chairman of Wasserstein Perella International. "He complements our capabilities for cross-border and U.K. domestic transactions and adds to our international focus on general industrial companies."

Wasserstein Perella's European business is headquartered in London with offices in Paris and Frankfurt. In addition to the successful public takeover by Ricoh of Gestetner in 1995, Wasserstein Perella has acted in the U.K. on behalf of Philip Morris in the acquisition of Terry's of York from United Biscuits __FORCETOC__ United Biscuits ("UB") is a British multinational food manufacturer, makers of McVitie's biscuits, KP nuts, Hula Hoops, The Real McCoy's crisps, Phileas Fogg crisps, and Jacob's Cream Crackers.  and of Air France in the sale of Meridien to Forte plc, and has advised such leading U.K. companies as SmithKline Beecham and WPP Group on their international strategic acquisitions and divestitures.

Covington's extensive M&A and corporate finance experience includes such recent transactions as the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard.  of telecommunications infrastructure supplier Vero, Marley's financing and acquisition of U.S. outdoor furniture manufacturer Syroco, BTP's acquisition and financing of fine chemicals manufacturer MTM MTM Medication Therapy Management
MTM Minutes to Midnight (Linkin Park album)
MTM Mary Tyler Moore (actress)
MTM Made to Measure
MTM Motoren-Technik-Mayer
MTM Methods Time Measurement
 and subsequent equity issue, the reconstruction of the Vestey food trading and shipping group, the reconstruction of the Queens Moat hotel group, British engineering group GKN's successful hostile bid for the Westland helicopter group, the divestment of GKN's steel forging interests to British Steel, and McDonnell Douglas's divestment of its MDIS See Meta Data Coalition.  information group.

Prior to joining S.G. Warburg (the predecessor firm of SBC Warburg) in 1986, Covington, 42, worked for the Barclays Bank in South Africa and Ocean Inchcape, an offshore oil contractor. Covington graduated from Cambridge University with a first class honors degree in theoretical physics and a distinction in post graduate applied mathematics.

Wasserstein Perella Group Inc., is a leading international investment bank, with emphasis on advisory work, underwriting of equity and debt through its subsidiaries, merchant banking and other asset management services. Headquartered in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
, Wasserstein Perella has offices in Chicago, Los Angeles, London, Paris, Frankfurt, Tokyo and Osaka.

CONTACT: Clark & Weinstock Inc.

Gene Donati or Davis Weinstock, 212/953-2550
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Publication:Business Wire
Date:Jan 23, 1996
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