Banc One Corp. has hired John M. Buley Jr., a veteran CoreStates Financial Corp. executive, to lead a growing loan syndications and private placements effort.
Mr. Buley, 40, will head a team of four loan syndicators who will target the midsize energy, health care, mortgage finance, insurance, and real estate deals.
"Banc One is focusing a lot more on the corporate banking side of our business from a national perspective," said Tyree B. Miller, director of the bank's commercial banking council. "Syndication is one of those functions that we need to have."
Operating in 12 states, the bank has been developing and growing in middle market areas including cash management and rate-risk products, Mr. Miller said.
He said that unlike many of its money-center bank competitors, such as Chase Manhattan, Bankers Trust New York Corp., and J.P. Morgan & Co., Banc One does not plan to underwrite high-yield bonds.
"That may come later, but right now, we're mainly interested in capturing the lead bank role of the middle-market clients," Mr. Miller said.
A 10-year veteran of CoreStates Financial, Mr. Buley will report to Mr. Miller.
Banc One plans to serve as both arranger and co-manager on loan syndications.
Scott Benjamin, a senior vice president at CoreStates, will take over Mr. Buley's responsibilities. Mr. Benjamin had been organizing, structuring, and distributing media and communications loans for 10 years.
