Bank One Corp., which bought First Chicago NBD Corp. in October, said it has merged its two capital markets groups and named F. Gerald Byrne to head the unit.

Mr. Byrne, a 26-year veteran of First Chicago, was formerly chairman of First Chicago Capital Markets. He now takes that title at Banc One Capital Markets.

The company also announced Thursday that David R. Meuse, formerly head of Banc One Capital Holdings, and several executives that worked for him were leaving Bank One to start Stonehenge Investors Inc.

The new firm will manage a number of mezzanine funds for Bank One. It plans to raise $400 million in two new investment funds in which Bank One said it expects to be a significant investor.

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