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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release July 1, 1999

             PRESIDENT CLINTON NAMES J. RICHARD FREDERICKS AS
             U.S. AMBASSADOR TO SWITZERLAND AND LIECHTENSTEIN

The President today announced his intent to nominate J. Richard Fredericks to be U.S. Ambassador to Switzerland and Liechtenstein.

Mr. J. Richard Fredericks, of San Francisco, California, has spent nearly 30 years in the brokerage industry, specializing in Investment Research Analysis and Investment Banking, with a specific focus in the field of commercial banking. He began his career with Dean Witter in 1970 as a securities analyst and joined Shuman, Agnew & Co. 5 years later as a partner in the same capacity. In 1977, he joined Montgomery Securities (now Bank of America Securities) as Partner and later Senior Managing Director in Investment Research, covering the banking and financial services area. For 17 consecutive years, Mr. Fredericks was chosen by Institutional Investor Magazine as an "All-American" Research Analyst, covering the commercial banking industry. In 1995, Mr. Fredericks changed roles to oversee the firm's investment banking effort for the financial industry. In that position, he has played a leading advisory role in numerous commercial banking and financial merger and acquisition transactions, several of which were the largest ever completed. Mr. Fredericks is now a Senior Consultant to Bank of America Securities.

From 1991 to 1997, Mr. Fredericks served as a trustee for the Town School for Boys. He currently serves on the Board of Advisors of Georgetown University's Robert Emmett McDonough School of Business, and the Boards of Pacific Century Financial Corporation and its main subsidiary, Bank of Hawaii. He also serves in the Advisory Board of Sonnet Financial and to Financial Technology Ventures.

Mr. Fredericks was born in Detroit, Michigan. He received a B.S. in Business Administration from Georgetown University and an M.B.A. from Columbia University. He is married to Stephanie Sorensen Fredericks. They have three children, Matthew, Colleen, and Will.

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