Wall Street heavyweight Gregg Siebert has been named executive vice president of Cablevision Systems Corporations. The appointment will take effect by month’s end.
Siebert’s previous post was as senior vice president and vice chairman at Merrill Lynch, which was sold to Bank of America in September as a result of the subprime mortgage crisis.
From 2003 to 2004, Siebert led Merrill’s Americas Corporate Banking division.
“Gregg has a substantial knowledge of the cable and telecommunications industries, as well as more than 20 years of experience in developing, executing, and managing complex financial transactions and relationships,” Cablevision CEO James Dolan said in a statement.
Cablevision declined to comment on any specific deals or initiatives to be undertaken by Siebert in the newly created position other than to say that he’ll work on the company’s “overall corporate strategy as well as business development activities.”
An industry insider, however, suggested that Cablevision was eager to snap up Siebert in the wake of Merrill’s demise and that he’ll strengthen Cablevision’s executive team.