Wall Street Veteran Named CIO of Clear Asset Management
Fred S. Fraenkel Named CIO of Clear Asset Management, Effective June 1
New York, NY (PRWEB) May 21, 2008 -- Clear Asset Management Inc. (ClearAM), www.clearam.com, a money management and equity research firm, today announced the appointment of Fred S. Fraenkel, an investment professional with over 30 years of experience, as its chief investment officer (CIO), effective June 1. Fraenkel headed up global research at Lehman Brothers in the 1990s and was a member of Barron's Year-End Roundtable.
"In order to scale a world-class firm, you need world-class talent. Fred's extensive knowledge and experience allows our organization to leap forward several significant steps," said Andrew Corn, CEO and founder of ClearAM. "We're delighted that Fraenkel is continuing in his capacity as a member of the board while moving to an internal operational position with the company." For the last 14 months, Fraenkel served as chairman of ClearAM's board of directors.
"Clear's innovative and disciplined investment process caught my attention," said Fraenkel. "I'm eager to become an integral part of the team dynamic at the core of this firm."
Fraenkel also serves as chairman of Millennium 3 Capital, a venture firm specializing in early stage companies that he founded in 2000. Before founding Millennium 3 Capital, Fraenkel served as vice chairman of ING Barings Furman Selz and chief operating officer of Furman Selz, an investment banking, financial services and securities firm. While there he served as a member of the joint Americas operating committee and on the board of directors. Additionally, he served as co-chairman of the firm's capital commitment committee.
Prior to joining Furman Selz, Fraenkel spent nine years at Lehman Brothers as managing director and director of global research where he directed 110 analysts located in New York, London, Tokyo and Hong Kong. Under his leadership, the firm was rated Number One in the Institutional Investor rankings.
Before Lehman Brothers, Fraenkel served 4/12 years as a director of equity research and a member of the board of directors at Prudential Securities. Earlier in his Wall Street career, Fraenkel was chief investment strategist for E.F. Hutton and a securities analyst with Goldman Sachs & Company.
Fraenkel received a B.S. in Economics and Finance from Lehigh University and an M.B.A. from The Wharton School of the University of Pennsylvania. Fraenkel was elected to membership in Beta Gamma Sigma and Omicron Delta Epsilon, the national business school and economics honorary societies. He is a past chairman of the board of advisors of the College of Business and Economics of Lehigh University.
Fraenkel is a member of the New York Society of Security Analysts and the AIMR. He is a member of the board of directors of Invention Machine Corporation and The Gerson Lehrman Group.
About Clear Asset Management
Clear Asset Management offers five 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 the financial industry all set ClearAM apart. ClearAM is a Registered Investment Advisor. For more information, please see www.clearam.com.
Through its wholly-owned subsidiary Clear Indexes LLC, it creates and publishes custom indexes for institutions and packaged products, some of which are tracked by Unit Investment Trusts and Exchange Traded Funds (ETFs) including (EXB), (CSD) and (CUT). For more information, please see www.clearindexes.com.
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