DALLAS -- Rauscher Pierce Refsnes has hired a team of brokers from the Dallas office of Smith Barney Shearson to expand its retail distribution of fixed-income securities.

Greg Glosser, formerly a vice president at Smith Barney, has been named vice president of investments and will head the team.

Several of Glosser's staff from Smith Barney also joined Rauscher in the following positions: Steve Randel, investment executive; Donna Sheckells, senior account service representative; and Kathie Hudson, service represetative.

"They found the business opportunities at Rauscher particularly attractive," said Truman Smith, senior vice president and manager of the retail office at Rauscher's corporate headquarters in Dallas.

Smith said the recruitment of Glosser and his staff reflects Rauscher's desire to expand the distribution arm of its fixed-income business, which has been one of the company's star performers. The group puts together portfolios and analyzes them for wealthy individuals and families as well as small-and medium-sized institutions.

In announcing the appointments, Rauscher and chairman David A. Smith said: "We are pleased to attract one of the most talented brokers in the industry ... Last year, Greg was the leading broker in the Southwest in tax-exempt municipal bonds."

Rauscher Pierce Refsnes is the largest regional brokerage an d investment banking company in the Southwest. The firm has 950 employees.

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