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SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
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[ ] Preliminary proxy statement [ ] Confidential, for Use of the
Commission Only (as permitted by
Rule 14a-6(e)(2))
[ ] Definitive proxy statement
[X] Definitive additional materials
[ ] Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12
FIRST OF MICHIGAN CAPITAL CORPORATION
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(Name of Registrant as Specified in Its Charter)
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(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing
fee is calculated and state how it was determined):
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[FIRST OF MICHIGAN CAPITAL CORPORATION LETTERHEAD]
January 31, 1997
Dear Stockholder:
The following was released on January 27, 1997 regarding the election of a new
Chairman of the First of Michigan Capital Corporation Board of Directors.
DETROIT, Mich. -- FIRST OF MICHIGAN CAPITAL CORPORATION (CHX: FMG) has
elected EDWARD SOULE to its Board of Directors and to the position of
Chairman of the Board of Directors effective immediately. Soule is a
former partner of Edward D. Jones, the financial securities firm. The
announcement was made today by WILLIAM H. CUDDY, who previously held the
position as Chairman of the Board. Cuddy continues as a member of the
board and Chairman of the Audit Committee.
"We are very pleased to welcome Ed Soule to the First of Michigan team,"
said Cuddy, who was Chairman since 1995 and is a partner in the law firm
of Day, Berry & Howard. "He brings extensive industry experience to the
board and will help us continue the earnings growth of the last several
quarters."
Soule, 44, served as Chief Financial Officer of Edward D. Jones in St.
Louis, and was a member of its management committee, from 1986 to 1995. He
served as Chief Financial Officer for Transworld Airlines through December
1996. He also was the partner in charge of the St. Louis office of Main
Hurdman, which is now KPMG Peat Marwick. Soule is currently an Adjunct
Professor of Business Ethics at the University of Missouri in St. Louis,
where he lives with his wife and two children.
"I am delighted to be associated with First of Michigan," Soule said.
"The firm has an outstanding franchise and I hope to bring some value to
the brokers and employees who have worked to establish it. My job will be
to help First of Michigan prosper, along with its customers and
shareholders, as the industry grows and changes."
Cuddy also announced the retirement of Thomas A. McDonnell, who had
served on the board for the last three years.
First of Michigan Capital Corporation's principal subsidiary is First
of Michigan Corporation, a member of the New York Stock Exchange and
Michigan's largest full-service securities firm. Founded more than 60
years ago, First of Michigan Corporation specializes in a wide range of
financial services that include investment banking; investment products
such as stocks, bonds, annuities, unit trusts and mutual funds; and
investment services such as retirement plans, money management,
underwriting and trading. First of Michigan offers these services through
its 553 employees located in 32 offices throughout Michigan, as well as an
office at 100 Wall Street, New York.
END OF PRESS RELEASE
Very truly yours,
Conrad W. Koski
Conrad W. Koski
President
Chief Executive Officer
