FROM THE OFFICE OF PUBLIC AFFAIRS
December 21, 2001PO-888
The Air Transportation Stabilization Board (ATSB), created by Congress to issue federal loan guarantees to air carriers that suffered losses due to terrorist attacks on September 11, 2001, today named an experienced investment and merchant banking specialist, Joseph P. Adams, Jr., as its Executive Director.
As Executive Director, Mr. Adams will oversee the operations of the ATSB as it reviews air carrier applications for loan guarantees under a $10 billion program authorized by Congress in September. He will begin work on January 7, 2002 at the Board's office in Washington, DC.
Mr. Adams has a long and distinguished career in investment and merchant banking, with wide experience in the financial issues facing the airline and other transportation-related industries. Since April 2001, he has been a partner with New York City-based Brera Capital Partners, which manages a $680 million private equity investment fund.
Prior to joining Brera, Mr. Adams was a Managing Director of Investment Banking at Credit Suisse First Boston, formerly Donaldson, Lufkin & Jenrette, where he focused on leveraged finance, M&A and restructurings and also served as Head of the Transportation Group. Earlier, he headed North American Investment Banking at NatWest Markets and was a Managing Director and Head of the Transportation Group at Drexel Burnham Lambert. In his 20-year career, Mr. Adams has directed over 100 projects covering a wide range of corporate finance transactions including mergers, acquisitions, corporate restructurings, spin-offs, leveraged buyouts, and offerings of equity, convertibles and debt.
Mr. Adams earned an M.B.A. from Harvard Business School in 1981 and graduated from the University of Cincinnati with a degree in engineering in 1979.
The ATSB, established as part of the Air Transportation Safety and System Stabilization Act signed into law September 22, consists of designees of Federal Reserve Board Chairman Alan Greenspan, Treasury Secretary Paul O'Neill and Transportation Secretary Norman Mineta. The designees are Federal Reserve Board Governor Edward M. Gramlich, Treasury Under Secretary for Domestic Finance Peter R. Fisher and Department of Transportation General Counsel Kirk Van Tine. David Walker, Comptroller General of the United States, is a non-voting member of the Board.
Additional information about the ATSB is available on its web site, www.treas.gov/atsb