SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report:
December 8, 1995
SALOMON INC
(Exact name of registrant as specified in its charter)
Delaware 1-4346 22-1660266
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
Seven World Trade Center, New York, New York 10048
(Address of Principal Executive Offices) (Zip Code)
(212) 783-7000
(Registrant's Telephone No.)
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Item 5. Other Events
On December 8, 1995, the Registrant issued a press release, a copy of
which is filed herewith as Exhibit 99 and incorporated herein by
reference in its entirety.
Page 2
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SALOMON INC
(Registrant)
Date: December 8, 1995 By:/s/ Richard Carbone
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Controller
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EXHIBIT INDEX
Exhibit Description Page number in
sequential numbering system
99 Copy of December 8, 1995 press release
(Salomon Inc Appoints Three New Board Members)
Page 4
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The following was released to press on December 8, 1995:
SALOMON INC APPOINTS THREE NEW BOARD MEMBERS
DAVID O. MAXWELL, JOHN L. HASELTINE AND SHIGERU MYOJIN
NEW YORK, DECEMBER 8, 1995 - At its regularly scheduled meeting on December 6,
1995, the Salomon Inc Board of Directors elected three new members, effective
February 7, 1996, the date of its next regularly scheduled Board meeting. The
new Board members are David O. Maxwell, the retired Chairman and Chief Executive
Officer of Fannie Mae (Federal National Mortgage Association); John L.
Haseltine, a Managing Director of Salomon Brothers and a member of its Operating
Committee responsible for Salomon Brothers' Global Fixed Income Business; and
Shigeru Myojin, Vice Chairman of Salomon Brothers and a member of its Operating
Committee responsible for Global Proprietary Trading and Risk Management.
Robert E. Denham, Chairman and Chief Executive Officer of Salomon Inc, stated:
"David Maxwell has been conspicuously successful in both corporate management
and public service and will bring great talent and energy to our Board. John
Haseltine and Sugar Myojin are outstanding managers who will bring to the Board
judgment and experience based on a combined 35 years at the firm. I am delighted
with these additions to our Board."
David O. Maxwell retired as Chairman of the Board and Chief Executive Officer of
Fannie Mae on January 31, 1991. He joined Fannie Mae in February 1981 and was
elected chairman and chief executive officer in May 1981. From 1970 to 1973, he
served as general counsel of the U.S. Department of Housing and Urban
Development; and from 1967 to 1970, he was Insurance Commissioner, then
Secretary of Administration and Budget Secretary of the Commonwealth of
Pennsylvania.
In 1987-1988, Mr. Maxwell served as Vice Chairman of the National Housing Task
Force. Several of the Task Force's key recommendations for changes in federal
housing policy have subsequently been enacted into law.
A graduate of Yale University and Harvard Law School, Mr. Maxwell practiced law
in Philadelphia from 1959 to 1967. He was a candidate for the U.S. Congress in
1960 and served as an officer in the U.S. Navy from 1955 to 1959.
Mr. Maxwell is a member of the Boards of Directors of Corporate Partners, L.P.;
Financial Security Assurance Holdings Ltd. (FSA); Hechinger Company; Potomac
Electric Power Company (PEPCO); and SunAmerica Inc. He is a member of the boards
of trustees of The Brookings Institution, WETA (the public television and radio
stations in metropolitan Washington, D.C.), The Enterprise Foundation, The
European Institute, and Arena Stage. He is a member of the Trustees' Council of
the National Gallery of Art and is a Life Trustee of The Urban Institute.
John L. Haseltine is a Managing Director of Salomon Brothers and a Member of the
Salomon Brothers Operating Committee and the Salomon Inc Risk Management
Committee. He is in charge of the Firm's Global Fixed-Income Business.
Mr. Haseltine began his career at Salomon Brothers in 1976 as a transportation
bond trader. In 1978 he began trading corporate bonds. He was named a Vice
President in 1978 and was appointed as Managing Director in 1984. From February
1986 to January 1988 he was responsible for the contractual trading, primarily
whole loans, within the Mortgage Trading Department. He ran the Corporate Bond
Department, which includes Emerging Market Debt, then was in charge of the
Global Credit Markets Department until his current assignment. Prior to joining
Salomon Brothers, Mr. Haseltine worked in the Bond Department at Republic
National Bank of Dallas for three years.
Born in Missouri on 1947, Mr. Haseltine received a B.S. in Finance from
Northwestern University in 1969 and an M.B.A. from the University of Missouri in
1973. Mr. Haseltine served in the U.S. Army from June 1969 to March 1972 as a
lieutenant in Military Intelligence.
Shigeru Myojin is Vice Chairman of Salomon Brothers Inc, responsible for
firmwide proprietary trading and risk management. He is also a member of the
Operating Committee and the Management Board and chairs the Risk Management
Committee of Salomon Inc.
Mr Myojin joined the firm in 1979 after having worked for Yamaichi Securities
for six years. He was promoted to Director in 1986, Managing Director in 1988
and Vice Chairman in 1995. Before being named Vice Chairman, he was co-Chief
Executive Officer of Salomon Brothers Asia Limited.
Born in Nagoya, Japan in 1949, Mr Myojin received a B.A. from Chuo University,
Tokyo in 1973.
