LOS ANGELES COUNTY - News from Nov. 4, 1986

Jerome Nussbaum has been promoted to president and chief operating officer of Gibraltar Savings, Beverly Hills.

The 40-year-old Nussbaum succeeds Herbert J. Young, who continues as chairman and chief executive.

Young also continues as chairman and president of Gibraltar Financial Corp., the S&L;’s parent. Nussbaum, who joined Gibraltar in 1985, will continue as executive vice president and chief financial officer of the parent company, Gibraltar said.