LABE, SIMPSON & CO. CHANGES NAME TO MARTIN SIMPSON & COMPANY, INC.; CHARLOTTE WALKER NAMED CHAIRMAN AND CEO
LABE, SIMPSON & CO. CHANGES NAME TO MARTIN SIMPSON & COMPANY, INC.;
CHARLOTTE WALKER NAMED CHAIRMAN AND CEO
NEW YORK, Nov. 6 /PRNewswire/ -- Labe, Simpson & Company, Inc. announced that it has changed its name to Martin Simpson & Company, Inc. in honor of the late founder of the securities firm.
In addition, Charlotte J. Walker has been named chairman and chief executive officer of the renamed company, replacing Peter Labe who resigned to pursue other opportunities.
Commenting on the name change, Walker said, "The new name is the most visible of the changes underway at our firm. More fundamentally, we are re-dedicating ourselves to the values instilled in this firm by the late Martin Simpson. Under his leadership, this firm became known for its high-quality industry research, work ethic, creative ideas, track record with stock recommendations, and high energy level. Those values are what we stand for."
Founded in 1973 by Martin B.C. Simpson, the firm specialized in securities analysis of technology stocks for institutional investors. Later the firm expanded its research to cover health care, retail and related fields. In addition, a money management arm was established and carries on today managing three investment partnerships. This group is headed by Robert C. Dunne, the company's president and chief investment officer.
In 1988, Simpson died tragically in the Lockerbie airplane crash in the U.K. The firm subsequently changed ownership and was renamed.
Another milestone in the history of the firm came earlier this year, when the company established a close business relationship with Credit Lyonnais Securities (USA) Inc.
Under the arrangement, Credit Lyonnais Securities supports all sales, trading and execution, while Martin Simpson & Company is responsible for all domestic industry research activity. The arrangement between Martin Simpson & Company and Credit Lyonnais Securities builds on the strengths of both firms and enables clients to obtain several high-quality domestic and international investment services.
Walker said, "The arrangement enables us to take advantage of Credit Lyonnais Securities' expertise and capital while opening new global markets for our research. Our relationship is working very well, and we look forward to making much greater strides in the marketplace in the future."
Mark Diamond, the head of Credit Lyonnais Securities (USA) equity division, said, "I consider the changes at Martin Simpson & Company to be very positive for both Credit Lyonnais and Martin Simpson, and I see a prosperous future for both firms."
Walker joined Labe, Simpson & Co. in March, 1990 as managing director. She previously worked for County NatWest Securities, L.F. Rothschild, and Wood Gundy & Co. She also worked for General Electric Information Services Co. She attended George Washington University and graduated from the University of Virginia in 1977.
/CONTACT: Robert Guenther of The Abernathy/MacGregor Group, 212-371-5999, for Martin Simpson & Company/ CO: Martin Simpson & Company Inc.; Labe, Simpson & Company Inc. ST: New York IN: FIN SU: SH -- NY016 -- 1569 11/06/91 09:49 EST