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First Union Institutional Debt Management, Inc. Expands Professional Staff Names Heads Of Portfolio Management and Loan Trading CHARLOTTE - E. A. Kratzman and Tom Finke have joined First Union Institutional Debt Management, Inc. (IDM), newly organized in August to specialize in the management of collateralized loan obligations (CLOs) and collateralized bond obligations (CBOs). Kratzman will serve as managing director and head of Portfolio Management and Finke, also a managing director, will direct loan trading. Both will report to Mark Mahoney, president of IDM. Kratzman brings more than 20 years of experience in banking and finance to First Union IDM. Prior to joining First Union, he had been with Societe Generale where he was the senior credit officer, responsible for all real estate, leveraged and high yield transactions. Kratzman's career history also includes service as co-head of the Asset Recovery Group at Deutsche Morgan Grenfell in New York, managing a $700 million portfolio that included project finance, asset securitizations, real estate and corporate credits. From 1985 until 1997, Kratzman was employed by Westpac Banking Corporation both in New York and London. His responsibilities included launching Westpac's Southeast Corporate Banking and Real Estate Finance groups. During his last four years with Westpac, he was senior vice president and chief credit officer for the Americas Division. Finke previously was head trader for First Union Capital Markets' Par Loan Trading Desk, responsible for all trade decisions and operating activity. His banking industry experience also includes Bear, Stearns & Co., Inc., Mellon Bank, NA and Westpac Banking Corp. First Union's Capital Management Group includes the corporation's investment and asset management services. These include First Union Brokerage Services Inc., the nation's eighth largest broker-dealer based on the number of licensed representatives; First Union Institutional Debt Management, Inc., First Investment Advisors; First Capital Group; the Evergreen Funds, one of the nation's fastest-growing mutual fund families; CAP, the nation's first bank-based asset management account; First Union Insurance Group; Personal Trust; Corporate and Institutional Trust; Pension Services; IRAs; Financial Planning; Private Client Group and Women's Financial Advisory Services. Charlotte-based First Union Corporation (NYSE:FTU) is a leading financial services company with assets of $235 billion at Sept. 30, 1998, and market capitalization that places it among the top 15 financial services companies in the world. Ranked as the nation's sixth largest bank and eighth largest brokerage, it serves 16 million customers who can access account information and purchase financial products at 2,400 retail offices, 3,400 automated teller machines, through the Internet at www.firstunion.com, or by calling First Union Direct at 1-800-ASK-FUNB. --END-- |
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