RYE BROOK, N.Y., June 22, 2000 (PRIMEZONE) -- Hoenig Group Inc. (Nasdaq:HOEN) is pleased to announce that Dr. Mordechai Abir today joined Hoenig & Co., Inc. as Director of Energy and Geopolitical Research. Dr. Abir will continue to provide written reports and on-going consultation about geopolitical factors affecting the energy industry to institutional investors and industry participants.
Mr. Fredric P. Sapirstein, Chairman and CEO, commented, "I have known Dr. Abir for 20 years and am confident that his first-rate analysis of the energy industry will provide Hoenig with an important research capability. The timing of Dr. Abir's arrival is particularly beneficial given important recent developments affecting the oil and gas industries. Dr. Abir's work will complement Hoenig's existing research and trade execution strengths and will help to broaden Hoenig's client relationships. I am very pleased to welcome such a high caliber professional to our organization."
Dr. Abir commented, "I am thrilled to join forces with Hoenig & Co., Inc., a highly entrepreneurial organization. Hoenig's trading strengths and global presence are a strong combination, and I look forward to making a meaningful contribution to Hoenig's focused internal research effort."
Prior to joining Hoenig, Professor Abir has had a long and distinguished career at Schroder & Co. Inc., where he had been Senior Strategist, Energy & International Relations. Dr. Abir is a leading expert on the political factors affecting the oil and gas industries. He is Professor Emeritus at the Hebrew University of Jerusalem and has been a guest scholar at a number of leading universities, including the London School of Economics, the School for Advanced International Studies at John Hopkins University in Washington, D.C., the Woodrow Wilson Center for International Scholars in Washington, D.C. and The Brookings Institute in Washington, D.C. Dr. Abir has authored numerous books and articles on the subjects of Middle Eastern and international politics and geopolitical factors affecting the energy industry.
For thirty years, Hoenig Group Inc. has provided high quality trade execution, independent research and premier client service to professional money managers and alternative investment funds throughout the world. Hoenig Group Inc. operates through its brokerage subsidiaries in the United States, United Kingdom and Hong Kong. Hoenig Group's U.S. asset management subsidiary, Axe- Houghton Associates, Inc., manages $4.5 billion on behalf of public and corporate employee benefit plans, investment partnerships and other institutional investors.