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McDONALD & CO. NAMES PRESIDENT SUMMERS TO SUCCEED CHAIRMAN O'DONNELL AS CEO

 CLEVELAND, July 27 /PRNewswire/ -- The board of directors of McDonald & Co. Investments, Inc. (NYSE: MDD) today announced that President William B. Summers, Jr., will succeed Chairman Thomas M. O'Donnell as chief executive officer (CEO) effective Jan. 1, 1994. O'Donnell, who recommended the change, will continue as chairman.
 "Bill has been the driving force in the recent growth of McDonald & Co.," said O'Donnell. "He has the knowledge, vision and energy to take us to the next level and beyond. Our shareholders, clients and employees are fortunate to have a man of his talents and commitment as their leader."
 Summers, 43, has been president & chief operating officer (COO) since 1989 and with McDonald & Company since 1971. He served as the chairman of the board of governors of the National Association of Securities Dealers (NASD) in 1991 and was a board member from 1989-1992. He is active in numerous civic and charitable organizations.
 O'Donnell will work with investment banking clients, having spent most of his career in corporate finance, and expects to focus on strategic expansion opportunities, as McDonald & Co. continues to broaden its Midwest presence.
 O'Donnell, 57, has been in the securities industry for 33 years and joined McDonald & Co. in 1965. He is also currently the chairman of the Securities Industry Association, which represents more than 700 firms that account for over 90 percent of all U.S. securities trade.
 McDonald & Company Investments, Inc., through its principal subsidiary, McDonald & Company Securities, Inc., operates a regional investment banking, brokerage and investment advisory business with a total of 34 offices in nine states, including 28 in Ohio, Michigan, Indiana and Pennsylvania, as well as offices in Atlanta, Boston, Chicago, Dallas and Jersey City, N.J.
 -0- 7/27/93
 /CONTACT: Richard Clark of McDonald & Co., 800-553-2240, or 216-443-2614/
 (MDD)


CO: McDonald & Company Investments, Inc. ST: Ohio IN: FIN SU: PER

KL -- CL007 -- 6061 07/27/93 08:48 EDT
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Publication:PR Newswire
Date:Jul 27, 1993
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