Wintrob moves up up to executive v.p. post at Broad Inc.

Los Angeles-based Broad Inc. recently announced the promotion of Jay Wintrob to executive vice president, one of the four highest company posts.

Wintrob, 34, said he sees the promotion as "an extention of existing responsibilities" from his previous duties as senior vice president.

Wintrob will handle the firm's legal and regulatory affairs as well as participate in corporate development decisions, especially acquisition matters. As one of the largest financial service firms in L.A., roughly half of Broad's business is in corporate acquisitions.

"We will continue to pursue acquisition opportunities in businesses related to ours," he said.

Also highly concentrated in insurance, Broad is interested in acquiring some of the close to $18 billion in insurance assets currently in conservatorship across the county.

"We hope to get our fair share of those," he said.

The company was also one of the bidders for failed Executive Life Insurance Co. While California Insurance Commissioner John Garamendi passed over the company's bid for now. Wintrob said Broad remains interested in Executive Life and that "the situation is still unfolding."

Wintrob joined Kaufman and Broad Inc., the predecessor of Broad Inc., in 1987 and was made senior vice president in May 1989. Before coming to Broad, he practiced law at O'Melveny & Meyers for five years, specializing in mergers and acquisitions and securities.