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BUSINESS
February 3, 1989 | From Times wire services
Four top executives at General Electric Co.'s Kidder, Peabody Group Inc. have resigned in what one described as a "difference of opinion regarding the firm's future," according to published reports today. The resignations occurred less than two weeks after General Electric put the head of its own investment banking unit in charge of Kidder's profitable division. Michael D.
BUSINESS
September 16, 1987 | Associated Press
Ralph DeNunzio resigned Tuesday as chairman of Kidder, Peabody Group Inc., ending a three-decade tenure with the venerable investment house that was tainted by Wall Street's insider trading scandal. The resignation completed DeNunzio's gradual disengagement from the key leadership positions at Kidder, which began five months ago when its parent, General Electric Co., assumed direct control of the company as part of a management shake-up stemming from the scandal.
BUSINESS
January 20, 1989
General Electric Co. has announced a management shuffle at its Kidder Peabody Group, the Wall Street investment house that has provided its share of problems since GE took control in 1986. GE Capital, the company's financial services division, stated that Michael A. Carpenter, an executive vice president of GE Capital, has been named president and chief executive of Kidder Peabody Group. Silas S.
BUSINESS
December 5, 1987 | From Staff and Wire Reports
Kidder, Peabody & Co., a prestigious Wall Street firm hurt by the insider trading scandal, said Friday that it will lay off 1,000 people and cut expenses by 20% to save $100 million annually. The announcement marked the latest move by a major brokerage to restructure, consolidate and reduce costs since the October market collapse. It came on the same day that the president of Prudential-Bache Securities said his firm would slow its expansion and one day after E. F.
BUSINESS
May 15, 1987 | DEBRA WHITEFIELD, Times Staff Writer
Ralph D. DeNunzio announced Thursday that he will resign as chief executive of the major investment firm Kidder, Peabody & Co. and that the second-ranking official will leave the company altogether in a shake-up that marks the latest casualty of Wall Street's insider trading scandal. DeNunzio, who will stay on as chairman to oversee the management transition, will be replaced as chief executive by Silas S.
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