Merrill Lynch & Co. hired two executives for its loan syndication group last week, bringing its hirings this year to 11 on a staff of 25.

Pat Loret de Mola, previously at Mitsubishi Trust and Banking Corp., was hired as a director. Ms. Loret de Mola will work on the structuring and sales of loans; she has experience with both Japanese and Latin American syndications.

Robert Stevens, formerly of Toronto-Dominion's loan group, was hired as a vice president and will focus on credits for the media and telecommunications industries.

"This is a sufficient number of people for us to manage the amount of business we have at the moment," said Christopher Birosak, a managing director and co-head of Merrill's loan group.

"As the business continues to increase, every time we have the opportunity to add staff that broadens our capabilities, we're quite interested," he said.

Merrill began its loan syndication operation in 1994, building off its strengths in high-yield finance and equities. The group primarily makes leveraged and highly leveraged loans to noninvestment-grade companies.

David F. Grams Jr. will leave his post as a vice president in First Union Corp.'s health care capital markets group to be vice president and treasurer at Quorum Health Group Inc.

At First Union, Mr. Grams, 30, marketed capital market products and services to companies in the health care industry. Brentwood, Tenn.-based Quorum was one of his clients.

"This was a great opportunity for David with a great client. We are sorry to lose him but know that he will be successful in this and all endeavors," said Marijane Boyle, managing director of First Union's health care group.

First Union did not comment on a successor to Mr. Grams.

He is to join Quorum June 30 and is to take responsibility for commercial banking relationships and cash management.

He will report to Steve Hewett, chief financial officer.

Quorum owns and operates acute care hospitals and local and regional health care systems nationwide. Its subsidiary, Quorum Health Resources Inc., is a manager of not-for-profit hospitals and provides consulting services.

- Compiled by Omri Ben-Amos and Mahua Dutta

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.