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THE SWIG INVESTMENT COMPANY NAMES WILLIAM HERON TO TWO TOP POSTS

 SAN FRANCISCO, July 19 /PRNewswire/ -- The Swig Investment Company (SIC), the parent company of Swig Weiler and Dinner Development Company and the Fairmont Hotel Management Company, has named William J. Heron to the posts of general manager and chief executive officer of The Swig Investment Company, and chairman of the board and chief executive officer of Swig Weiler and Dinner Development Company, succeeding Melvin Swig, who died earlier this year.
 Heron, 51, joins the privately held company from Citibank where he was group executive for Citibank's U.S. consumer business. The appointment concludes a search for a successor begun by Melvin Swig and the SIC Management Committee last year.
 "We're very pleased to have attracted an executive with such impressive strategic financial management and operations credentials," said Richard Swig, chairman of the Fairmont Hotel Management Company and a member of the management committee. "Given the cyclical and capital intense nature of our businesses, Bill Heron's mandate is to create and implement a business plan to carry the company successfully into the next century."
 As SIC's chief executive officer, Heron is responsible for the company's performance and profitability and represents the interests of the Swig family. He will focus on long-term preservation and growth of the company's capital assets while also directing the company's day-to- day activities. In his post of Swig Weiler and Dinner chairman and CEO, he oversees the management of the company's current portfolio and will be actively participating in the structure of that property group for the future.
 During his 24-year career with Citibank, Heron held a variety of general management positions, including division executive of the bank's New York Consumer Banking Division, business manager of its Card Products Division, and business manager for the bank's International Banking Group in Australia. Most recently, as head of the bank's U.S. Consumer Banking Group, he managed the operations of a 600 branch organization with 23,000 staff members nationwide and assets of approximately $42 billion.
 A graduate of Yale with a bachelor's degree in history and zoology, Heron holds a master's degree in business administration from the Wharton School of the University of Pennsylvania. He is a director of the United Negro College Fund, a trustee of Prep for Prep, an educational program for minority children, and a member of the advisory board of Yale School of Management. He and his family will be relocating to the San Francisco Bay area from New York City.
 The Swig Investment Company is one of the country's oldest and most well-respected asset management, real estate development and hotel management firms. Founded in 1936, the company owns more than 50 properties across the United States, including the prestigious Fairmont Hotel Group.
 -0- 7/19/93
 /CONTACT: Christina Pagano, CPPR of Swig Investment Company, 212-724-0974/


CO: The Swig Investment Company ST: California IN: SU: PER

WB-PS -- NY037 -- 3050 07/19/93 12:30 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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