NEW YORK -- To help expand its business with affluent customers, Chase Manhattan Bank has recruited from the ranks of the brokerage industry.
Michael Buckner has been hired from the PaineWebber Group to be national sales manager of Chase's investment services division. He reports to J. Peter Benzie, head of Chase Manhattan Investment Services.
"I feel very, very comfortable being at a bank," said Mr. Buckner, 45, who until earlier this spring managed PaineWebber's downtown Chicago office.
Mr. Buckner said he looks forward to working under a compensation system that depends less on transaction volume and more on customer satisfaction. It will also be refreshing to offer "objective" financial advice rather than the proprietary products that brokerage firms encourage, he said.