He became vice-chairman and co-managing director, with the chairman, C. P. Stewart.

Craig Marcus, the other co-managing director of TAG, will lead the unit.

Gest currently works as an independent producer and is the co-managing director of VizPoets.

He also became the co-managing director of their Frankfurt derivatives and warrants sales and trading.

The younger Walkers took up positions as co-managing directors, with each assigned specific responsibilities in the company.

The euro, Anthony Ullmann, a co-managing director, said, "is a fact of life for us."

"We have the worst of both worlds," said Michael Heck, the other co-managing director.

Kieran Hannon, 38, executive vice president and co-managing director at the San Francisco office, becomes president and chief operating officer there.

In 1961 he returned to the Phoenix as co-managing director and helped achieve the goal to move into more appropriate space.