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 ManagingDirector with Morgan Stanley Dean Witter, has been namedPresident and Chief Operating Officer of ereorg.com, Inc.reporting to Ronald DeKoven, Chairman and Chief Executive Officerof the company. ereorg is a business-to-business e-commerceenterprise which has introduced the first global online auctionmarket for trading bank loans, trade claims and sovereign bankdebt. Mr. Andryc will join ereorg on January 3, 2000 and overseethe company's day-to-day operations. Mr. Andryc will also be amember of ereorg's board of directors. During his twenty year career at Morgan Stanley, Mr. Andrycheld a variety of management positions. Most recently, Mr. Andrycwas the Chief Operating Officer of the Information TechnologyGroup which supported the technology needs of those businessunits which were part of Morgan Stanley prior to the merger withDean Witter. Mr. Andryc also headed Morgan Stanley's PrivateClient Services business, managed the Risk Arbitrage Group andserved as the Chief Administrative Officer for the Fixed IncomeDivision. Like Mr. DeKoven, Mr. Andryc has had significantinternational experience. He has managed several internationalbusinesses and worked for several years in Morgan Stanley'sLondon office. Announcing Mr. Andryc's appointment, Mr. DeKoven said, "Phil'smanagement skills, technology expertise and relationships withleading financial institutions will enable him immediately tocontribute to ereorg's operating success. I am thrilled that wehave attracted a person of Phil's extraordinary caliber." Explaining his decision to join ereorg, Mr. Andryc said, "I amvery enthusiastic about the opportunities that the Internet willprovide to the financial services industry. In particular, Ibelieve that the fixed income markets will be transformeddramatically by the Internet over the next several years. Ron andhis team have developed a business model which, combined withereorg's unique auction system, places ereorg at the cutting edgeof that transformation." The public area of ereorg's web site is now open and can befound at http://www.ereorg.com. ereorg is a registered broker-dealer and member of the National Association of SecuritiesDealers, Inc. (NASD). ereorg will not serve as a principal in anytransaction and plans to begin auctions in January of 2000.Registration material for participation on the site can beobtained 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 MacGregorFrank, Tel. (USA) 212-371-5999, for ereorg.com, Inc. orereorg.com, Inc., Tel. (USA) 212-418-1150 Web site:http://www.ereorg.com
Subscribers please note that material bearing the slug"PROTEXT" is not part of CTK's news service and is not to bepublished under the "CTK" slug. Protext is a commercial serviceproviding distribution of press releases from clients, who areidentified in the text of Protext reports and who bear fullresponsibility for their contents.
PROTEXT
