Former Lehman Brothers Research Head Joins Clear Asset Management Board
Fred Fraenkel Named Chairman of Clear Asset Management Board of Directors.
New York, NY (PRWEB) September 18, 2007 -- Clear Asset Management Inc. (ClearAM), www.clearam.com , a money management and equity research firm, today named Fred Fraenkel to its Board of Directors as chairman. Fraenkel is chairman of Millennium 3 Capital, a venture firm specializing in early stage companies. Before founding Millennium 3 Capital in 2000, Fraenkel served as vice chairman of ING Barings Furman Selz and chief operating officer of Furman Selz .
Fraenkel's long career in investing includes his being a member of Barron's year-end roundtable from 1982-1985, and heading global research at Lehman Brothers from 1987 to 1993. During that time, Lehman Brothers had its first ascension to Number One in the Institutional Investor rankings.
"Fred's knowledge and experience is already a significant asset to ClearAM. With his guidance and energy there is no stopping our money management company from reaching its goals," said Andrew Corn, CEO and founder of ClearAM.
"ClearAM has a robust, disciplined investment process that has yielded superior results and I am excited to help the company enhance its institutional process and further build the firm," said Fraenkel.
Previously Corn served as both CEO and chairman of ClearAM. ClearAM is separating its CEO and chairman positions to prepare for significant growth in institutional asset management, index publishing for ETFs and other packaged products and performance-fee based funds.
In June 2007, ClearAM was named "Equity Manager of the Year" by Opal Financial Group for its long-only portfolios. In addition to its separately managed accounts, ClearAM, through its wholly-owned subsidiary, Clear Indexes LLC, runs four indexes that are tracked by exchange traded funds (ETFs) with another index in registration.
Fraenkel joins a distinguished board that includes Roger Ehrenberg, former president and CEO of DB Advisors, a Deutsche Bank affiliate responsible for Deutsche Bank's global proprietary hedge fund activities, and Robert Murphy, a former vice chairman of the board of directors of the NYSE and former CEO of LaBranche & Co., LLC.
About Clear Asset Management:
Clear Asset Management, a money management and equity research firm, offers four equity style portfolios to institutions, financial intermediaries and individuals in separately managed accounts. Portfolio construction and stock selection is performed utilizing its proprietary multifactor models that screen, rank and weight stocks. Transparency, risk management and a focus on delivering consistent long-term results while avoiding the human bias and conflicts of interest that have plagued Wall Street and the fund industry all set ClearAM apart. ClearAM is a Registered Investment Advisor. Through its wholly-owned subsidiary Clear Indexes LLC, it creates and publishes custom indexes that are tracked by exchange traded funds (ETFs). The company has recently moved from Park Avenue to its new and larger offices in the Trump Building at 40 Wall Street. For more information, please see www.clearam.com.
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See the original story at: http://www.prweb.com/releases/2007/09/prweb554347.htm
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