U.S. Trust names new CIO

FRAMINGHAM (11/04/2003) - Gerard A. Callaghan has been appointed executive vice president and chief information officer of U.S. Trust. In this position, Callaghan will also be a member of U.S. Trust's management committee. He comes to the NYC-based wealth management company from Citigroup's Corporate and Investment Bank where he served as managing director of Operations and Technology for two and a half years.

From 1995 to 2000, he was a managing director at Deutsche Bank/Bankers Trust, where he was responsible for the operations, client service and technology project management for the Global Institutional Services Custody, Retirement Services, Corporate Trust and Investment Management divisions. He also had responsibility for the operations and technology integration following the acquisition of Bankers Trust. Callaghan began his career at Citicorp in 1979, where, prior to leaving in 1995, he served as the director of Financial Markets Operations, with responsibility for all operations and trading support for the North American Global Finance business.

Callaghan has been a member of the Securities Policy Committee of the New York Clearing House, the T+1 Steering Committee of the Securities Industry Association and the Depository Trust and Clearing Corporation's Operations Advisory Committee. Callaghan graduated cum laude with a Bachelor of Science degree in marketing and management from Fordham University. He also holds an M.B.A. in finance from Fordham.

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