Bloomberg News

NEW YORK - Ten days after Credit Suisse agreed to buy it, Donaldson Lufkin & Jenrette Inc. said co-heads of banking, mergers, and other departments had been chosen from each firm for the merged investment bank.

When Travelers Group Inc. bought Salomon Inc. in 1997 and combined it with its Smith Barney Inc. brokerage, it too chose co- heads drawn from both firms. Since then, many of those arrangements have changed.

Kenneth Moelis, who has been running corporate finance at Donaldson Lufkin, will oversee investment banking in the Americas for the 26,000-person firm with Charles Stonehill, Credit Suisse First Boston's head of the investment banking for the Americas.

Mr. Moelis will continue to be based in Los Angeles, while Mr. Stonehill will remain in New York, according to a Sept. 10 staff memo released to the press.

Donald Meltzer, currently one of four co-heads of mergers at Credit Suisse First Boston, will run global mergers with Donaldson Lufkin's Hal Ritch. Steven Koch and Scott Lindsay, also Credit Suisse First Boston co-chiefs of mergers, will become co- chairmen of the new unit. Mr. Koch will remain in the United States, while Mr. Lindsey will relocate to London.

The fourth current Credit Suisse First Boston co-head of mergers, Gordon Rich, will manage the investment bank's global media group with Donaldson Lufkin's Jill Greenthal.

Robert Johnson, who runs telecommunications investment banking at Donaldson Lufkin, will be chairman of the media and telecommunications group. Chris Lawrence, whom Credit Suisse First Boston hired this year from Salomon Smith Barney as head of its telecommunications banking group, will keep the title in the combined company.

The media and telecommunications groups will be run separately, according to the one-page memo, signed by co-chiefs of global investment banking Tony James and Charles Ward. In instances when clients and businesses overlap, they will be managed jointly. Richard Barrett will oversee the financial institutions group, a job he has been doing at Donaldson Lufkin. Michael Martin, who has been running Credit Suisse First Boston's financial institutions banking, will be global head of its depository institutions group.

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