Biz People

Mueller takes up reins at Qwest

Qwest Communications International Inc, the phone company that operates in 14 western US states, named Edward A. Mueller as its new chief executive officer, replacing Richard C. Notebaert (below left), who announced he would retire from the company once a successor was in place.

Mueller was formerly the chief executive officer at Williams-Sonoma Inc and was a long-time executive at SBC Communications Inc, Denver-based Qwest said yesterday.

Richard Notebaert, who has headed the fourth-largest US telephone company for five years, has said he wanted to find a successor with acquisition expertise. Notebaert's attempt to buy MCI Inc in 2005 was thwarted by Verizon Communications Inc.

Mueller held various executive level positions at SBC, including as chief executive officer of its Ameritech Corp unit from 2000 to 2002.

Deutsche Bank hires Greenspan

Former Federal Reserve Chairman Alan Greenspan has been retained as a senior advisor to Deutsche Bank AG's corporate and investment bank unit, according to a report in the Wall Street Journal.

Peter Hooper, who served as a Fed staffer during Greenspan's tenure and is now chief US economist for Deutsche Bank Securities, spearheaded Greenspan's appointment as an advisor, the newspaper reported.

Greenspan (right) retired earlier this year after nearly two decades at the helm of the Federal Reserve, during which time his name became more-or-less synonymous with the powerful board.

Greenspan, 81, now runs his own consulting firm, Greenspan Associates.

In his advisory role, Greenspan will speak at conferences, attend meetings and take part in conference calls with bank clients, analysts and traders, the Journal reported, but he will steer clear of involvement with Deutsche's asset-management arm to avoid any conflicts with an already established relationship with Pacific Investment Management Co, a unit of Allianz SE.

Greenspan told the Journal his decision to take up the Deutsche post was "more a personal thing than most anything else", citing his relationships with management board Chairman Josef Ackermann and Hooper.

Greenspan's "position as one of the architects of the modern financial system gives him a unique perspective from which to help our clients", said Ackermann.

(China Daily 08/14/2007 page16)