Management buys New York Brokerage

February 7, 2001

New York-based Frenkel & Co. Inc. has a new owner-senior management as a result of a management buyout Monday led by Robert Shunk and John Kelly. Shunk will continue as chairman of Frenkel, and Kelly will serve as president and chief executive officer. In addition, Gary Smith was named executive vice president and chief operating officer; Michael Feinstein was named executive vice president; and R.P. Wolf was named executive vice president, general counsel and secretary.

Terms of the management buyout were not disclosed.

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