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CALFED INC. ANNOUNCES SALE OF TSA CAPITAL MANAGEMENT

       CALFED INC. ANNOUNCES SALE OF TSA CAPITAL MANAGEMENT
    LOS ANGELES, Nov. 7 /PRNewswire/ -- CalFed Inc. has announced an agreement in principle to sell its institutional investment management company, TSA Capital Management, to Mitchum, Jones & Templeton, Inc., a Los Angeles-based investment banking and management firm, and a group of TSA executives.  TSA Capital Management will remain headquartered in Los Angeles.
    TSA Capital Management, a specialist in quantitative U.S. and global tactical asset allocation, currently manages approximately $2 billion in assets.  Mitchum, Jones & Templeton is involved in the development of a proprietary computerized, real-time analysis and trading system.
    Terms of the transaction were not disclosed.  CalFed Inc. said that the sale will not have a material effect on its operations.
    "Both firms share a commitment to innovation in the field of investment management," said Dr. Roger G. Clarke, TSA Capital Management's chief executive and investment officer.  "From our earliest conversations with Mitchum, Jones & Templeton, we've seen great potential for synergies between our quantitative research and their work in investment technology.
    "Two of the principals of Mitchum, Jones & Templeton, William A. Lupien and Murray L. Finebaum, formerly served as chairman and president, respectively, of Instinet, the international computer- based market access, information and order execution system, which was acquired by Reuters in 1987.
    "We are pleased to have the opportunity to acquire TSA Capital Management, which has a history of successful investment management," said Lupien, chairman of Mitchum, Jones & Templeton.  "TSA has developed proprietary models which, when combined with the expertise of its professionals, create an exceptional product with proven performance.  The combination of our experience in the trading process and its emerging, technology with TSA's investment management talents will permit us to offer new opportunities to our clients.
    "TSA Capital Management is a subsidiary of Trust Services of America, Inc., the assets of which CalFed has agreed to sell to Northern Trust Corporation.  CalFed Inc. is a financial holding company headquartered in Los Angeles.
    -0-              11/7/91
    /CONTACT:  Rhanda Dunn of CalFed Inc., 213-932-2283 or Marie Arlt of TSA Capital Management, 213-614-7118/ CO:  CalFed Inc., Mitchum, Jones & Templeton ST:  California IN:  FIN SU: EH-SE -- LA008 -- 2032 11/07/91 08:32 EST
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Publication:PR Newswire
Date:Nov 7, 1991
Words:362
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