Bear, Stearns & Co. New York, has named senior managing directors Sal Naro and Gary McLoughlin to newly created positions as global trading manager.

The promotions are part of an effort to develop fixed-income business, the firm said.

Mr. Naro, who has headed U.S. corporate trading, will led global corporate debt trading.

Mr. McLoughlin, who has led U.S. government trading, will run global sovereign debt trading.

In addition, managing director Tim Lea was named head of European corporate debt trading and Dino Cesario, also managing director, became head of European sovereign debt trading.

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