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M.D. Sass hires COO

NEW YORK, May 17, 2010 -- M.D. Sass, a leading NY-based investment management organization, is pleased to announce the hiring of Phil Sherman, CPA as Senior Vice President and Chief Operating Officer effective today.

Phil has an extensive background in senior executive positions with financial service companies and has strong operations expertise. In those positions he was a proponent of change, proactively interpreted data to solve business problems, created strategic plans, aligned IT strategies with business requirements, increased profitability and analyzed and negotiated complex transactions.

Prior to joining M.D. Sass, Phil was brought in as CFO to help restructure ACA Financial Guaranty, where he was responsible for administration, finance & accounting, information technology, investments and human resources. Earlier he was Executive Vice President & CFO of Reliance Insurance and was Senior VP & Group Controller of Reliance Group Holdings and was previously an Audit Manager at Deloitte & Touche.

Mr Sherman graduated Long Island University with a BA, Accounting, is a member of the AICPA and NY Society of CPAs.