WestLB AG Names Neil Colverd as President and CEO of Brightwater Capital Management.New Management Team in Place NEW YORK -- WestLB announced today that Neil Colverd has been named President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of its Brightwater Capital Management business, reporting to Graham Light, Vice Chairman of Brightwater Capital Management and global head of the Bank's Investment Management unit. Mr. Colverd has been with WestLB for 10 years, most recently as CEO for its APAC region, as well as acting Chief Investment Officer for the Bank's Investment Management unit, a position he has held since 2001. In this capacity, Mr. Colverd has been responsible for managing portfolio holdings on a global basis in excess of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 80 billion. In addition, he is Chairman of the Dublin-based WestLB Covered Bond Bank. "To accommodate the recent and anticipated growth of the Brightwater business, and to strengthen the operational infrastructure of the firm, WestLB's board decided unequivocally to bring in a new management team," said Mr. Light. "We're very pleased to have Neil run the Brightwater business along with the appointment of George Suspanic as Chief Investment Officer and Gerri Alfino Egler as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , both reporting to Neil." Mr. Suspanic is a Managing Director at Brightwater, responsible for leveraged finance asset portfolio management. Prior to joining Brightwater at the end of January 2006, Mr. Suspanic was a Managing Director in the Portfolio Management Unit of WestLB's New York Branch, where he was also co-head of its Energy & Power Group. Prior to joining WestLB in 2002, Mr. Suspanic spent 14 years at Goldman Sachs & Co., where he was a Managing Director in the Investment Banking Division. Mr. Suspanic holds an M.S. in Operations Research from Stanford University, and a B.S. in Electrical Engineering, with distinction, from Cornell University. Ms. Egler joined WestLB in 2004 as a Managing Director to spearhead the development of certain special projects. Previously, Ms. Egler was General Counsel at Assured Guaranty Corp. and CGA Investment Management, Inc. She served as legal counsel with WestLB from 1996 to 1998, and practiced law at Dewey Ballantine and Gibson, Dunn & Crutcher. Ms. Egler received her J.D. from Fordham University School of Law Fordham University School of Law (commonly known as Fordham Law or Fordham Law School) is a part of Fordham University in the United States. The School is located in the Borough of Manhattan in New York City, and is one of eight ABA-approved law schools in that city. and a B.A., with honors, from the State University of New York (body) State University of New York - (SUNY) The public university system of New York State, USA, with campuses throughout the state. at Stony Brook. About Brightwater Capital Management Brightwater Capital Management, with over $35 billion in structured finance assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , is one of the top global managers of collateralized debt obligations (CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the ) and structured investment vehicles (SIV SIV simian immunodeficiency virus. ). Brightwater Capital also specializes in asset-backed commercial paper conduits (ABCP). Brightwater Capital manages the Blue Heron CDO series, the Whitehawk CDO, the Greyhawk Funding securities arbitrage conduit, and the Harrier Finance and Kestrel Funding structured investment vehicles. The investment team is comprised of 20 investment professionals, including a team of portfolio managers with an average of 20 years of experience. Brightwater Capital Management is a marketing name for the structured investment activities of WestLB Asset Management (US) LLC, which is part of the global asset management business of WestLB AG (WestLB), a registered investment adviser with the U.S. Securities and Exchange Commission. About WestLB AG WestLB AG is one of Germany's leading financial services providers with offices in the world's largest financial centers. The firm provides financial advisory, lending, structured finance, project finance, capital markets and private equity products, asset management, transaction services and real estate finance to institutions. WestLB has total assets of more than EU285 billion, as of December 31, 2006. For more information, please visit www.westlb.com In the United States, certain securities, trading, brokerage and advisory services are provided by WestLB's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. WestLB Securities Inc., a registered broker-dealer and member of the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . |
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