NEW YORK - In a move to broaden its asset-backed securities into new markets, CS First Boston Inc. has named Andrew Stone, once a star mortgage trader at Daiwa Securities America Inc., its mortgage-securities chief.

In his new position, Mr. Stone, 37, succeeds Craig Lipka, 35, as managing director. Robert E. Diamond Jr., CS First Boston's vice chairman, said he hoped Mr. Lipka would choose to stay with the firm.

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