E.W. Blanch Executives to Form Tobat Capital

E.W. Blanch Holdings, Dallas, says that three employees will be leaving the firm in early 2000 to form Tobat Capital. Tobat Capital will make equity investments in early and development stage e-commerce companies targeting the financial services industry.

The three individuals leaving are Ian Packer, chief financial officer, Scott Brock and Cory Moulton. Brock has been involved in the creation of EWB's e-commerce presence within the insurance sector.

``EWB intends to have a close relationship with Tobat as a Limited Partner, a strategic advisor and a user marketing arm,'' said Ted Blanch, chairman and chief executive officer of EWB. ``We believe that our close ties to the principals of Tobat will enhance our leadership position in the insurance e-commerce arena. EWB has begun a search for a new chief financial officer and expects to retain Mr. Packer's services through our 1999 closing and to ensure a smooth transition.''

He added, ``I will personally, with the help of Chris Walker, president and chief operating officer of EWB, assume investor relations responsibilities in the interim.''