In Brief: New BankBoston Unit Hires Two Directors

BankBoston Corp., the nation's 16th-largest bank holding company, is expanding its new investment banking group. The bank has been reshaping some of its capital markets capabilities and transferring them into the new group.

Last week the group hired two managing directors.

Douglas M. McRae, who joined the bank from Merrill Lynch & Co., will work directly with leveraged buyout firms, focusing on mergers and acquisitions, leveraged lending, private placements, and junk bonds.

Harry C. Hagerty, who was the global co-head of lodging and leisure at Deustche Morgan Grenfell, will advise clients in the gaming, hospitality, leisure, and entertainment industries on financing and M&A.

Both will report to Mary-Etta Schneider, managing director and head of the investment banking group. Ms. Schneider said part of the reason for the restructuring was to attract talented people.

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