IBJ Whitehall Financial Group in New York has promoted Larry S. Zilavy to the newly created post of president of its corporate finance group.

The group, which works in transactional senior and mezzanine lending activities, is expanding into more merchant banking activities, Whitehall says.

Mr. Zilavy, 48, founded the unit in 1992 and has been leading it as senior managing director.

He is also president of IBJ Capital Corp., a Whitehall subsidiary that provides long-term subordinated debt and capital along with equity sponsors and the management teams of middle-market companies; and a member of the parent company's office of the president.

Mr. Zilavy came to Whitehall in 1992 from Chase Manhattan Bank, where he was a division executive, responsible for middle-market Manhattan companies in diverse industries. He had returned to Chase in 1990 after a four-year stint as area manager of corporate banking at Sanwa Bank Ltd. in New York.

Whitehall also promoted two managing directors of the corporate finance group to senior managing director, Mr. Zilavy's old title.

Christopher Mangan, 38, manages the media and communications department, which he founded in 1997, and the group's portfolio of equity co- investments. He joined the company in 1993 as vice president of the corporate finance group. Earlier he worked 10 years at National Westminster Bancorp in New York and Chicago.

John Duncan, 42, is responsible for providing leveraged financing to the private equity community. He also established Whitehall's captive insurance department. Before joining the company in 1986 he worked in New York in the international financial institutions group of First Chicago International, specializing in capital markets transactions.

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