As a brand new managing director at the asset trading and finance group of PaineWebber Inc., Gordon L. Monsen will be focusing on the booming market for subprime-mortgage securitizations.

The 15-year veteran of the mortgage securities business was hired last week by New York-based PaineWebber after serving as president of the Mortgage Research Group, a whole-loan credit and equity research firm he founded two years ago. His mission will be to bring PaineWebber into the subprime loan market. Mr. Monsen said he expects PaineWebber to do "a baker's dozen" deals in the upcoming year.

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