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September 30, 1998

Hanrahan Ponders Return to Street After Retiring From Soft-Dollar Firm

By Staff Reports

James Hanrahan, a partner at Lynch, Jones & Ryan, has taken some peers by surprise, stepping down as head of institutional sales and trading at the New York-based soft-dollar firm.

Hanrahan, a popular mover and shaker with 30 years of experience on Wall Street, announced his retirement in September. Lynch, Jones & Ryan named Timothy Conway, 36, a senior vice president, to succeed Hanrahan.

A managing director in the global-trading unit, Hanrahan does not rule out returning to the business, though he won't be moving back immediately to the soft-dollar area. His Lynch, Jones & Ryan contract has a two-year non-compete agreement.

"I've had some headhunters call me, but I'll probably wait until next year before returning to the Street," he said in a telephone interview with Traders Magazine this month.

"To be honest, I really want to spend the months ahead with my family, playing golf and considering my options," added an upbeat Hanrahan, whose passion for his Irish heritage is almost legendary.

Hanrahan follows his son Kevin, a champion Irish stepdancer, on the Irish festival circuit in North America and Ireland. Earlier this year, Irish America magazine named Hanrahan one of 50 top Irish-Americans on Wall Street. The other luminaries included David Komansky, chairman and chief executive of Merrill Lynch & Co. (his maternal ancestors are from Cork), and famed money manager Peter Lynch.

Hanrahan spent his entire trading career in New York. Before he joined Lynch, Jones & Ryan in 1992 as manager of equity trading, Hanrahan had 14 years under him at First Boston, a predecessor firm of CS First Boston. Before that, he worked at Advest.

In an internal memo, Howard Schwartz, chief executive at Lynch, Jones & Ryan, told staff that as a result of Hanrahan's efforts, the trading desk was more professional and better seasoned than ever before. Hanrahan had supervised 20 traders. "On a personal note, you would not find a better person than Jim," the memo stated.

Conway joined Lynch, Jones & Ryan in 1989 as vice president of international-equities trading, and was the primary trader for the firm's international accounts.

In 1994, he was promoted to senior vice president and general manager of the firm's international sales team. Previously, he was an equity sales trader in New York for Yamaichi International America, and before that at Martin Simpson & Co.