LOS ANGELES COUNTY - News from June 15, 1988

Bear, Stearns & Co. has named Michael E. Tennenbaum, 52, vice chairman of the firm’s investment banking division. Tennenbaum currently is the senior managing director of Bear Stearns’ Los Angeles corporate finance department, and will remain in Los Angeles.

The investment banking and brokerage firm said the promotion was in recognition of Tennenbaum’s role in greatly expanding Bear Stearns’ West Coast business. A Bear Stearns source also said the move could be a prelude to shifting control of the firm’s corporate finance department to Los Angeles.

Tennenbaum joined Bear Stearns in 1964 and in recent years has been the firm’s senior investment banker on transactions such as the initial public offering of Pacific Southwest Airlines and its subsequent acquisition by USAir Group Inc.