Salomon Bros. Inc. has named Robert S....
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Salomon Bros. Inc. has named Robert S. Salomon Jr., grandson of one of the firm’s founders, as chairman and chief executive of the Salomon Bros. Asset Management Inc. unit.
Salomon replaces Michael F. Holland, who announced Monday that he was leaving for a rival Wall Street firm. It was the latest in a series of departures since the firm was embroiled in a Treasury bond scandal last year.
Salomon Bros. has been hurt by the defections of senior executives as it reorganizes under interim Chairman Warren E. Buffett. However, Holland said his resignation to become vice chairman of Oppenheimer & Co. had little to do with the scandal.
For the last year Robert Salomon was chief investment officer of the group, with responsibility for mutual funds.
Salomon, 55, is a grandson of Percy Salomon, one of the three brothers who founded the firm in 1910.
Before joining the asset management group, Salomon for 16 years was director of stock research and chief equity strategist at Salomon Bros., a unit of Salomon Inc.
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