Philip J. Andryc Named President and Chief Operating Officer of ereorg.com
21.12.1999, 17:56
New York (PROTEXT) - Philip J. Andryc, formerly a Managing
Director with Morgan Stanley Dean Witter, has been named
President and Chief Operating Officer of ereorg.com, Inc.
reporting to Ronald DeKoven, Chairman and Chief Executive Officer
of the company. ereorg is a business-to-business e-commerce
enterprise which has introduced the first global online auction
market for trading bank loans, trade claims and sovereign bank
debt. Mr. Andryc will join ereorg on January 3, 2000 and oversee
the company's day-to-day operations. Mr. Andryc will also be a
member of ereorg's board of directors.
During his twenty year career at Morgan Stanley, Mr. Andryc
held a variety of management positions. Most recently, Mr. Andryc
was the Chief Operating Officer of the Information Technology
Group which supported the technology needs of those business
units which were part of Morgan Stanley prior to the merger with
Dean Witter. Mr. Andryc also headed Morgan Stanley's Private
Client Services business, managed the Risk Arbitrage Group and
served as the Chief Administrative Officer for the Fixed Income
Division. Like Mr. DeKoven, Mr. Andryc has had significant
international experience. He has managed several international
businesses and worked for several years in Morgan Stanley's
London office.
Announcing Mr. Andryc's appointment, Mr. DeKoven said, "Phil's
management skills, technology expertise and relationships with
leading financial institutions will enable him immediately to
contribute to ereorg's operating success. I am thrilled that we
have attracted a person of Phil's extraordinary caliber."
Explaining his decision to join ereorg, Mr. Andryc said, "I am
very enthusiastic about the opportunities that the Internet will
provide to the financial services industry. In particular, I
believe that the fixed income markets will be transformed
dramatically by the Internet over the next several years. Ron and
his team have developed a business model which, combined with
ereorg's unique auction system, places ereorg at the cutting edge
of that transformation."
The public area of ereorg's web site is now open and can be
found at http://www.ereorg.com. ereorg is a registered broker-
dealer and member of the National Association of Securities
Dealers, Inc. (NASD). ereorg will not serve as a principal in any
transaction and plans to begin auctions in January of 2000.
Registration material for participation on the site can be
obtained by contacting ereorg. ots Original Text Service:
ereorg.com, Inc. Internet: http://www.newsaktuell.de Contact:
Steven Bruce or Mary Beth Kissane, both of Abernathy MacGregor
Frank, Tel. (USA) 212-371-5999, for ereorg.com, Inc. or
ereorg.com, Inc., Tel. (USA) 212-418-1150 Web site:
http://www.ereorg.com
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