First issue of FinancialWeek comes out Monday

The first issue of FinancialWeek, a new publication from Crain Communications, is due out on Monday, according to the newspaper’s Web site. Crain already publishes weekly business newspapers in Cleveland, Detroit, Chicago and New York, and it publishes industry newspapers as well.

So far, FinancialWeek appears to have an editorial staff of five people. The editor is Rob Hertzberg, a former Bloomberg News editor. He has also been editorial director for Financial Planning and On Wall Street.

There are four reporters. They are:

— Aileen Gallagher, who was most recently managing editor of Mediabistro.com. She previously worked as a researcher at Backtrack Reports, a New York-based company specializing in financial due diligence on investment management firms, including hedge funds.

— Andrew Osterland, who has covered the accounting profession and the financial world as a writer for CFO Magazine and Business Week. Before becoming a journalist, he spent a year as an auditor for Coopers & Lybrand.

— Arundhati Parmar, who joined FinancialWeek in its Chicago office from the Fort Wayne (In.) Journal-Gazette, where she covered business. She has also been a staff reporter for Marketing News and has freelanced for Crain’s Chicago Business

— Matt Quinn, who was previously the consumer finance reporter at American Banker where he covered the finance operations of GMAC and General Electric, among other companies.

FinancialWeek’s areas of beat coverage will include: economics and business markets, regulatory and legislative actions, financing, banking, insurance, real estate, cash management, investment management, benefits and retirement finance, investor relations, accounting and technology.

The tabloid paper will have an annual subscription rate of $79, and it will aim for its subscribers as the CEOs, presidents, CFOs, partners, treasurers, vice presidents of administration, IR directors and VPs of human resources as its target audience.

After the June 5 first issue, the publication will begin a biweekly publication schedule in September and go weekly in 2007.