Bloomberg News

NEW YORK - Chase Manhattan Corp., the No. 6 underwriter of U.S. debt, said it hired Jeffrey Flug from Goldman Sachs Group Inc. to oversee about 80 professionals handling the sale of U.S. fixed-income debt.

Mr. Flug, who will be based in New York, spent 12 years at Goldman, where he became global sales manager for the interest-rate derivatives group in 1997 and was named a managing director a year later. In January he began to lead electronic commerce sales for Goldman's fixed-income, currencies, and commodities group.

In his new post Mr. Flug will be in charge of sales of high-grade corporate debt, mortgage-backed securities, asset-backed securities, government and agency debt, and money-market instruments. He will report to John Steinhardt, head of Chase's U.S. securities division.

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