Executives crossed Wall Street in all directions last week.

Sam DeRosa-Farog, director of strategy and portfolio research at Chase Securities, moved to Donaldson, Lufkin & Jenrette Inc. as managing director and co-chief of high-yield research.

And Deutsche Morgan Grenfell Inc., the investment banking arm of Deutsche Bank, snared a five-person fixed-income research team from Lehman Brothers.

Mr. DeRosa-Farog, who began at DLJ last Wednesday, will specialize in global portfolio strategy and quantitative analysis. He will also work on the development of structured finance products, such as collateralized bond obligations and collateralized loan obligations. Mr. DeRosa-Farog will report to Bennett Goodman, head of high-yield research, sales, and trading.

Mr. DeRosa-Farog spent four years at Chase. Before that, he had worked at First Boston since 1985.

"This was an amazing opportunity," Mr. DeRosa-Farog said. "DLJ is a very vibrant organization."

At Deutsche's high-yield shop, Dan Ward and Paul Tice have been named directors. Mr. Ward covers the transportation and automotive industries, and Mr. Tice covers high-yield and the investment-grade energy sector. Both were ranked on Institutional Investor's "All-American Research Team."

For sovereign credit research, Deutsche appointed Peter Petas, also a top-ranked analyst, to the posts of director and senior analyst, and Reena Mithal was named a vice president.

Peter Mullen was appointed vice president and corporate and quantitative strategist. He will be involved in developing a corporate relative value group product that focuses on cross-sector relative value, bond valuation, structured product, and curve valuation.

The group will report directly to Glenn Reynolds, managing director and co-chief of global credit research.

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