Prudential Securities
is proud to announce
Lloyd's Of London
Has Links In Israel
All M. Olender
First Vice President-Investments
Investment Manag ement Advisor
has been desig nated a
JENNIFER FRIEDLIN SPECIAL TO THE JEWISH NEWS
W
CIMA
Certified Investment Manag ement Analyst
by the
Investment Manag ement Consultants Association
and
Wharton School of Business
Prudential Securities Incorporated
7031 Orchard Lake Road, Suite 101
West Bloomfield, MI 48322
810-737-8459
By
Appointment
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LOIS HARON
A
X
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F,
Members New York Stock Exchante, Inc
FoM
Herman Schwartz
T
S
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A
INVESTMENTS
Senior Vice President - Investments
T
R
lish literature and an master of
business administration from the
University of Hull and had spent
seven years working as marine
underwriter in Hong Kong and
Singapore, was hired by Lloyd's
to take on their Japan project.
Establishing Lloyd's first
overseas corporate market, Mr.
Speight said, is both demanding
and challenging. He arrives at
the London office at 7:30 a.m.
and spends the first part of his
day on the telephone talking
with people in Japan before they
go home.
By the end of the year, Mr.
Speight said he hopes to estab-
lish an underwriting market in
Japan, a goal that Japan's re-
vised insurance laws have made
possible.
Until 8:30 p.m., when he
leaves the office and returns
home to his wife and three chil-
dren, Mr. Speight develops and
strategizes business plans and
analyzes foreign markets.
Although this is Mr. Speight's
first visit to the Middle East, not
including a stopover in Bahrain,
he believes Lloyd's will continue
to develop its presence in Israel.
Lloyd's main Israeli clients in-
clude the Tel Aviv Diamond Ex-
change, Zim, El Al, Koor and
Israel Chemicals Ltd.
Current income from Israeli
companies totals more than 20
million.
"I've been surprised at the
general goodwill and warmth
that there seems to be between
the Israeli and British business c /\
communities," said Mr. Speight,
noting that, as for many of the
60 attending British companies,
the conference was just a start-
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
STOCKS TAX-FREE BONDS MUTUAL* FUNDS
First of Michigan
Corporation
Speight most about Is-
rael?
"The food is just de-
licious.-I had a traditional lamb
dish, osso ... osso something. It
was really good," gushed Mr.
Speight, head of operations and
development for Lloyd's of Lon-
don, who visited Israel for the
first time recently to attend Tel
Aviv's flagship City of London
Financial Services Conference.
I thought we were talking
business, but the 34-year-old
Speight, with red hair and a
quick smile, quickly revealed
that he is not a stodgy, blue-
blooded businessman who can
talk nothing but shop.
And perhaps that's just what
Lloyd's was looking for when they
hired Mr. Speight one year ago.
After 300 years of dominating
the insurance universe, Lloyd's
began facing unprecedented
crises in 1987. Natural disas-
ters, fierce competition, billions
of pounds in claims and suits
and the aging body of its back-
bone of investors threatened the
company to the point where sur-
vival meant rethinking its tra-
ditionally passive approach to
doing business.
In 1993, for the first time in
the company's history, Lloyd's
developed a business plan. Tar-
geting the Asia-Pacific and Mid-
dle East regions for corporate
development, the company's
leaders realized they needed
people who had a range of ex-
periences, knowledge of the
global market and vision beyond
the old-boys' network.
Mr. Speight, who has a bach-
elor of arts in American and Eng-
851-6989
Allied Member ASID
T
hat impresses Frank
L
P
A
6230 Orchard Lake Road, Suite 230
West Bloomfield, MI 48322
(810) 855-2100
1-800-654-1443
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Symbol
Name
Exchange
Mar. 8
Mar. 15
Change
SCIXF
ECILF
TEVIY
Scitex
ECI Telecom
Teva Pharm
NASDAQ% M
NASDAQ\NM
NASDAQ\NM
'14.50
'23.38
'41.25
'14.75
'22.00
'38.75
'0.25
(s1 :38)
(s2.50)
IEC
ELBTF
ELT
ELRNF
TAD
CMVT
ISL
PEC Israel
Elbit Computers
Elscint LTD
Elron Electronics
Tadiran
Comverse
First Israel Fund
NYSE
NASDAQ\NM
NYSE
NASDAQ\NM
NYSE
NASDAQ\NM
NYSE
'20.75
'15.88
'2.38
'12.00
'24.25
'18.00
'12.25
'19.53
'16.23
'13.38
'11.53
'23.25
'23.07
'12.25
(1 .22)
0 0.35
'11.00
(s0.47)
(51.00)
'5.07
'0.00
Source: Allen °lender, Prudential Securities,
West Bloomfield.