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LEHMAN JOINS SMITH BARNEY AS CO-HEAD OF COMMODITIES BUSINESS

 LEHMAN JOINS SMITH BARNEY AS CO-HEAD OF COMMODITIES BUSINESS
 NEW YORK, May 13 /PRNewswire/ -- Jack H. Lehman III has joined


Smith Barney, Harris Upham & Co. as co-head of the firm's commodities and commodities-related businesses, it was announced today by Jeffrey B. Lane, vice chairman. Lehman also was elected an executive vice president and a director of the firm.
 For the past 20 years, Lehman has been at Shearson Lehman Brothers, most recently as director of commodities.
 In his new position, he will co-manage Smith Barney's expanding commodities business with Philip M. Waterman Jr., executive vice president and a director of Smith Barney.
 "Jack brings a wealth of experience in commodities to Smith Barney," said Lane, who heads the firm's international, financial services, asset management and commodities units. "One of his many achievements in the field was his key role in building Shearson's commodities business to its present state as one of the largest futures commission merchants in the industry." Added Lane: "Our decision to expand our commodities management team reinforces Smith Barney's major commitment to the commodities business."
 Within the past few months, Smith Barney has established an institutional commodities unit in London, specializing in energy futures, and will shortly open a Hong Kong office specializing in foreign exchange and precious metals.
 Lehman and Waterman head a senior management team in commodities that also includes Michael R. Schaefer, executive vice president, and Alexander J. Sloane, managing director, both in New York, and John Benjamin, managing director in Smith Barney's Chicago commodities unit.
 Lehman is a past chairman of the Futures Industry Association, a member of an advisory group to the Commodity Futures Trading Commission and on an advisory board to the Wharton School.
 He is a graduate of Phillips Exeter Academy, the Wharton School of the University of Pennsylvania, and holds an M.B.A. from Baruch College, City University of New York. He and his family live in New York City.
 Smith Barney is a wholly owned subsidiary of Primerica Corporation, the diversified financial services company.
 -0- 5/13/92
 /CONTACT: Bob Connor of Smith Barney, 212-698-3123/ CO: Smith Barney, Harris Upham & Co. ST: New York IN: FIN SU: PER


GK-OS -- NY024 -- 9549 05/13/92 10:06 EDT
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Publication:PR Newswire
Date:May 13, 1992
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