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January 13, 2000
First Union Securities Adds Senior Automotive Analyst to Equity Research Department
NEW YORK-First Union Securities, Inc. has announced that Philip K. Fricke has joined the Equity Research team as director and senior vice president following the automotive industry.
Fricke has been following the automotive industry since 1975. Most recently he was managing director with CIBC World Markets where he followed the same industry. Fricke has been named to the Institutional Investor team fifteen times and was also ranked first in the Wall Street Journal's stock picking competition in 1995 and 1997. Prior to CIBC, Fricke spent more than 20 years collectively with Prudential Securities, Goldman Sachs and L.F. Rothschild. He will work out of the First Union Securities New York equity research offices.
"The addition of Philip to our team demonstrates our commitment to our equity research development," said Todd Wickwire, Director of Institutional Research for First Union Securities.
"The Automotive and Transportation Investment Banking Group is pleased to welcome Philip to the team. Philip brings a wealth of experience and will help support our continued focus on providing proactive ideas and value-added solutions to our clients," said Ted Garner, Managing Director of the Automotive & Transportation Investment Banking Group for First Union Securities.
The First Union Securities Research department currently has 47 senior analysts who focus on eight primary industry groups. The department currently provides in-depth coverage and analysis of nearly 500 companies.
The Automotive and Transportation Investment Banking Group, a team of 15 professionals, has completed more than 25 M&A transactions since 1995 and more than 35 financing transactions during the past five years. More than $2.4 billion in capital is committed to more than 70 automotive/transportation companies. Sectors of coverage include: Aftermarket Parts Manufacturers, Agricultural/Heavy Duty Equipment Manufacturers and Suppliers, Motorsports, Original Equipment Suppliers, Original Equipment Manufacturers, and Retail Dealerships.
First Union Corporation is a leading provider of financial services to more than 16 million retail and corporate customers throughout the East Coast and the nation. It is the nation's sixth largest bank holding company with assets of $235 billion as of September 30, 1999. The company operates full-service banking offices in Connecticut, Delaware, Florida, Georgia, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and Washington, D.C., and securities offices in 41 states.
Important Notice: First Union Securities is the trade name under which First Union Corporation conducts its investment banking, merger and acquisition, asset management and mutual fund, brokerage and insurance businesses.
First Union Securities includes: (1) First Union Securities, Inc. ("FUSI"), a registered broker-dealer and member NYSE/NASD and SIPC providing investment banking, merger and acquisition advisory and brokerage services to corporations, individuals and other institutions throughout the United States; (2) First Union Brokerage Services, Inc. ("FUBS"), a separately registered broker-dealer and member NASD and SIPC providing primarily retail brokerage services; (3) First Clearing Corporation ("FCC"), a separately registered broker-dealer and member NYSE/NASD and SIPC, providing securities clearance and settlement services; (4) the Capital Markets and Capital Management Groups within First Union National Bank ("FUNB"), a national banking association, and its subsidiaries, providing asset management, lending, structured finance risk management, derivatives, and fiduciary services to institutions and individuals; (5) various subsidiaries within First Union Corporation providing investment advisory, administrative and other services to the Evergreen and Mentor families of mutual funds; and (6) various wholly-owned state insurance agencies.
Stocks, bonds, mutual funds or other securities offered or sold through First Union Corporation or any of its bank or non-bank subsidiaries are not deposits of any bank and are not insured, guaranteed or otherwise protected by the Federal Deposit Insurance Corporation or any other government agency; are not endorsed or guaranteed by First Union Corporation, FUNB or any bank; and involve investment risk, including possible loss of principal.
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