Galvin Named CIO for US Trust Division

February 24, 2003 ( - Tom Galvin, the former chief US market strategist at Credit Suisse First Boston, has been named president and chief investment officer of US Trust's Campbell, Cowperthwait large-cap growth division, US Trust said on Monday.

According to Reuters, from 1998 to 2000, he served as chief equity strategist for Donaldson, Lufkin & Jenrette, which was acquired by CSFB in 2000. Before that he held the position of chief equity strategist at Deutsche Bank Securities from 1997 to 1998, US Trust said.

Galvin lost his job at CSFB in October, as the investment bank laid off about 20% of its research staff. Galvin’s job loss and the big job cuts reflected the increasingly inhospitable environment for Wall Street stock research following sweeping federal and state probes into analysts’ alleged conflicts of interest, as well as a steep downturn in the securities business.