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Patricia M. Dolan joins Lebenthal Asset Management as senior managing director.

NEW YORK--(BUSINESS WIRE)--Nov. 22, 1996 --

Veteran portfolio manager to manage and market high net worth

subsidiary

Patricia M. Dolan joins Lebenthal Asset Management, Inc. as Senior Managing Director, "filling a key executive position in our fixed income advisory with a major bond personage," James A. Lebenthal, Chairman, and James L. Gammon, President and Senior Portfolio Manager, announced today.

Ms. Dolan is a seasoned portfolio manager in her own right. Her 30 years of experience in Municipal Bonds spans the full range of municipal portfolio trading and management for mutual funds, bank common trust funds, corporate clients, and high net worth individuals.

She started her career with Merrill Lynch, spent six years with Chase Investors Management Corporation as a vice president and portfolio manager. From 1981 to 1991 Ms. Dolan was the vice president responsible for all Municipal bond portfolio management and trading in the fixed income investment management area of Citibank. For ten consecutive years, Ms. Dolan posted the top performing trust department returns as measured by The American Banker newspaper. Between 1991 and April 1996, she was Managing Director, Senior Portfolio Manager at Prudential Investment Advisors, managing approximately $1.7 billion in mutual funds.

Ms. Dolan will be in charge of strategic planning, client relations, marketing and new business. "Dealing with a force in bonds like Pat will be a joy and boon for our high net worth clients, present and prospective," Gammon said. "Pat's taking her place at Lebenthal makes us the dream team in bonds."

Lebenthal Asset Management is the discretionary portfolio management subsidiary of highly visible Lebenthal & Co., Inc., the mass marketer and 71-year old retail bond firm of which Jim Lebenthal is also chairman, his daughter, Alexandra, the president. Lebenthal Asset Management, Inc. provides advisory services and active management of individual and institutional fixed income portfolios with assets of $1,000,000 or more, and manages three mutual funds with total assets of $141.2 million -- the Lebenthal New York, New Jersey and Taxable Municipal Bond Funds.

"The Municipal Bond market has always been driven by its own dynamics as well as interest rates in general. And that provides a great opportunity for professional management to add value," Ms. Dolan said. "With 1.5 million issues outstanding -- and no central exchange reporting prices -- price differentials can be significant and, to the individual investor, unnerving. I'm excited to be joining Jim Gammon at Lebenthal Asset Management in the quest both for value and for bonds that reflect a real understanding of the customer."

Ms. Dolan attended Hunter College and New York University Graduate School of Business Administration. She has been a guest speaker on municipal securities and markets at numerous industry seminars, and is frequently quoted in the financial press.

She is a member of the Municipal Buyers Group, Municipal Forum of New York, the Money Marketeers of New York University, and the Municipal Bond Women's Club of New York.

She lives in Westfield, N.J. with her 7-year old son, Buddy, and husband, Vince Montalbano.

CONTACT: Jim Gammon, Jim Lebenthal

1-800-425-6116
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Publication:Business Wire
Date:Nov 22, 1996
Words:508
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