Michael E. Basham, deputy assistant secretary for federal finance at the U.S. Treasury Department, will join Smith Barney, Harris Upham & Co. as managing director, effective Sept. 3.

Smith Barney said Mr. Basham, who headed the government bond department of Wertheim Schroder & Co. in New York before joining the Treasury in 1989, will be in charge of developing privatization projects for state and local governments. The firm formed an interdepartmental group to promote privatization earlier this year.

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