Analyst Jonathan Lieberman, who tracked the growing subprime lending market for Moody's Investor Services, has jumped to Bear, Stearns & Co.

Mr. Lieberman, 33, joins Bear today as a senior analyst in its structured finance group. He will continue his focus on auto and mortgage lending to people with bruised credit. This category of lending has grown exponentially in the past year but has also been tarred by high-profile problems.

Before his three years at Moody's, Mr. Lieberman had specialized in mergers and acquisitions at Dewey Ballantine, a New York law firm.

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