Contact:
Marianna Sheridan
704-383-3715
|
April 01, 1998
First Union Launches New Global Capital Markets Initiative
CHARLOTTE - First Union Capital Markets has formed a new unit, Global Capital Markets, to enhance the firm's equity and fixed income distribution activities in the international arena. The merger between First Union and CoreStates, as well as the acquisition of Wheat First, will provide a strong platform on which to expand opportunities in the global financial institutions market.
Robert Teller joins First Union to lead the Global Capital Markets team after 12 years at Lehman Brothers Inc., where he has held several key positions including executive director and head of Lehman's European dealer businesses based in London. Prior to joining Lehman Brothers, Teller spent six years at US Bancorp. He will report to Jerry Schmitt, First Union executive vice president and co-head of Capital Markets.
Andy Oleksiw joins the new Global Capital Markets team after guiding the very successful growth and evolution of First Union's International Division. As previously announced, upon consummation of the CoreStates merger, Michael Heavener will assume leadership of the International Division.
Under Oleksiw's direction First Union became a leading provider of financial services to correspondent banks in Latin America, South Africa, Turkey and other emerging market countries. First Union has also become a major player in the trade finance market, as well as an important provider of international services to foreign embassies in the Washington, D.C. area and financial services to domestic subsidiaries of foreign corporations. Oleksiw has been with First Union for five years.
"Robert's extensive experience in fixed income, equity and foreign exchange, coupled with Andy's strong relationships with financial institutions throughout the world will enable First Union to quickly strengthen its global investor base and create additional origination opportunities in emerging markets," said Schmitt. "This new unit will also enable us to better price and distribute the capital markets products First Union originates."
Global Capital Markets will work closely with the International Division, as well as First Union Capital Markets' fixed income group and Wheat First Union's equity distribution group.
First Union Capital Markets and Wheat First Union are the investment banking divisions of Wheat First Securities Inc., the section 20 subsidiary of First Union Corp. Together, they provide a comprehensive range of capital markets solutions including sales and trading, merger and acquisition advisory, high yield finance, leveraged finance, equity underwriting, private placements, loan syndications, risk management and public finance.
Charlotte-based First Union Corp., is the nation's sixth-largest bank holding company with assets of $157 billion as of Dec. 31, 1997. The company serves approximately 14 million customers throughout the East Coast and the nation.
--END--
|
Email This Page
Printer Friendly Version