PaineWebber Group Inc., New York, has elected John R. Torell 3d, a former president of Manufacturers Hanover Corp., to the board of directors.

He fills a seat formerly held by John E. Kilgore Jr., who retired earlier this year.

Mr. Torell, 57, is chairman of Torell Management Inc., a private investment company. He is also chairman of Telesphere Corp., a financial information services firm; and is a managing director of Zilkha & Co., a merchant banking and private investment company.

In 1988, after 27 years at Manufacturers Hanover, Mr. Torell became chairman of Cal Fed Inc., which is now California Federal Bank. The following year he was named chairman and chief executive officer of Fortune Bancorp, Clearwater, Fla., which Amsouth Bancorp acquired in 1994.

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.