EQUITABLE CAPITAL NAMES HEAD OF NEW UNIT
EQUITABLE CAPITAL NAMES HEAD OF NEW UNIT NEW YORK, Nov. 11 /PRNewswire/ -- Mary Rudie Barneby has joined
Equitable Capital Management Corp. as president of its newly-created Equitable Capital Group Retirement Services division, effective immediately, David K. Downes, chief financial and administrative officer, announced today.
The new unit will offer combined asset management, record keeping, trustee and employee education services to 401(k) and other defined contribution plans at mid-sized and large companies in the United States. Equitable Capital, the nation's 15th largest money manager, currently oversees $600 million in third-party defined contribution assets for 75 clients, as part of its $35.9 billion portfolio. Ms. Barneby's unit will assume responsibility for these clients. Ms. Barneby will report to Joseph Briggs, senior managing director of pension and institutional markets. Ms. Barneby joins Equitable Capital from Dreyfus Corp., where in 1988 she put together the firm's division for the group retirement market. Business from 401(k) plans grew three-fold during her tenure at Dreyfus, contributing to the $2.5 billion of defined contribution assets under management. Prior to that, Ms. Barneby started efforts for the 401(k) market at Merrill Lynch, snagging over $2 billion in new assets for the firm in two years. Ms. Barneby began her career at Merrill Lynch in 1974 in operations planning. Ms. Barneby, 39, a graduate of New York University, holds an M.B.A. from Fordham University. In 1980, she was selected to serve in the Presidential Executive Exchange program, a special White House initiative for private sector executives. Ms. Barneby currently serves on the board of directors of the Financial Women's Association, as well as the Mimi Garrard Dance Company, New York. Equitable Capital Management Corp., based in New York, is a full- service money manager with $35.9 billion in assets under management as of Sept. 30, 1991. Clients include insurance companies, banks, pension and profit sharing plans, foundations, endowments, and other institutional investors, plus mutual funds. Equitable Capital is a wholly owned subsidiary of the Equitable Life Assurance Society of the United States. -0- 11/11/91 /CONTACT: Gene Donati of Equitable Capital, 212-382-7526/ CO: Equitable Capital Management Corp. ST: New York IN: FIN SU: PER GK-SM -- NY037 -- 2999 11/11/91 11:23 EST
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|Date:||Nov 11, 1991|
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