Donaldson, Lufkin & Jenrette Inc., a top underwriter of high-yield bonds, is beefing up its investment-grade debt capability.
The firm has hired three professionals from Smith Barney Inc., which recently announced plans to merge with Salomon Brothers.
Christopher Lynch, 35, was hired as a managing director in charge of investment-grade corporate bond capital markets, the same post he held at Smith Barney. He will report to Hamilton James, chairman of Donaldson Lufkin's banking group, and David DeLucia, managing director of fixed- income.
Paul Galant joined Donaldson Lufkin as a managing director in charge of financial engineering. In the newly created post, Mr. Galant, 29, will focus on liability management, new issue hedging, structuring, and product development. He will report to Mr. Lynch.
Tim Lu, 40, who was hired as a senior vice president in the financial engineering group, will report to Mr. Galant.