Schwab Institutional has hired Jeff Cusak as senior vice president and general manager of separate accounts.

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Cusak will head the entire separate accounts area, launched in late 1998 which now has $5.4 billion under management. He reports to John Coghlan, vice chairman of Schwab Corp. and president of Schwab Institutional.

Cusak comes to Schwab after 12 years at Salomon Smith Barney where he had been senior vice president and divisional director. At SSB, Cusack had been instrumental in developing several of the firm's wrap programs for mutual funds and separate accounts.

"We think that the separate account business is still in its infancy," said Coghlan. "Many Advisors are just beginning to understand the advantages for their clients. Jeff will help to make Schwab Institutional the most efficient and best place for advisors to implement separate accounts."

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