UPDATE 1-Oracle tabs new CFO, who will report to Safra Catz

(Adds analyst comment, background)

BOSTON, Aug 27 (Reuters) - Oracle Corp (ORCL.O: Quote, Profile, Research, Stock Buzz) named a new chief financial officer on Wednesday and said he will report to Co-President Safra Catz, who had held the finance post for three years after two CFOs quit within a year.

Jeff Epstein, 52, will become executive vice president and CFO, effective in September, Oracle said. He most recently served as CFO of Oberon Media, a privately held Internet game technology provider and publisher, and had also worked at DoubleClick, King World Productions and ADVO.

Catz, 46, is co-president of Oracle with Charles Phillips, 49. Both report to Larry Ellison, the 64-year-old software industry icon who has been Oracle's CEO since he founded the company in 1977.

Catz is responsible for Oracle's finances and operations, while Phillips manages the sales and marketing efforts of the world's third-largest software maker.

Benchmark Co analyst Brent Williams said he was not familiar with Epstein, but did not read much into the change since Catz was retaining control of Oracle's finance organization.

"She is staying with the company," Williams said. "You can end up trying to read too much into the tea leaves."

Catz, a former investment banker, has been CFO of Redwood City, California-based Oracle since the November 2005 resignation of Greg Maffei, a former Microsoft Corp (MSFT.O: Quote, Profile, Research, Stock Buzz) executive who unexpectedly left less than five months after joining the software maker.

Catz also served as interim CFO for four months before Maffei was hired, after the resignation of his predecessor, Harry You.

Oracle shares ticked higher following the news to $22.40, after a Nasdaq close of $22.34. (Reporting by Jim Finkle; Editing by Gary Hill)