NEW YORK, Dec. 20 -Andrew Arno, has been promoted to Chief Executive Officer of C.E. Unterberg, Towbin, and Albert A. Compitello, has been promoted to President and Chief Operating Officer, Tom Unterberg, Founder and Chairman of the Board announced today. Unterberg is the global investment bank focused on emerging growth companies in the technology, healthcare and global security sectors.
Mr. Arno has been one of Unterberg's leaders since he joined in 1990 as a Managing Director responsible for capital markets activities. He was most recently Executive Chairman. Before Unterberg, he was a Vice President at Lehman Brothers. And from 1981 until 1987, he was Vice President in the Individual Investors Services Division of L.F. Rothschild Unterberg, Towbin. He is a graduate of The George Washington University.
Mr. Compitello, a Wall Street financial and operations veteran, joined Unterberg in 2004 as Managing Director and Chief Administrative Officer. He was previously Co-Chairman and Chief Executive Officer of Momentum Resource Solutions of Edison, New Jersey. From 1985 through 2000, he was with Wertheim Schroder (now part of Salomon Smith Barney), most recently as Managing Director and Chief Operating Officer of its Equity Division. He is a certified public accountant and a graduate of Bernard M. Baruch College.
The firm made the promotions after CEO James E. Satloff, announced he would step down from that position for personal reasons. He remains with the firm as a member of the Board of Directors.
Said Mr. Arno, "I am extremely happy with the team that is in place and with the fact that the core management group remains intact as we enter 2006. We anticipate even greater success next year for our clients and our employees. We continue to pursue our strategy to be the preeminent investment bank for emerging growth companies."
About C.E. Unterberg, Towbin
Founded more than 70 years ago, C.E. Unterberg, Towbin supplies capital and financial advice to growth companies in the technology, healthcare and global security industries. Its services include public offerings, mergers and acquisitions and private placements. Unterberg also provides equity research, sales and trading, asset management and private client services. Principal offices are in New York, Menlo Park, San Francisco, Israel and Hong Kong.
