PaineWebber names Randy M. Masel head of credit research; Labriola to head corporate bond research department

Business Wire, April 9, 1997

NEW YORK--(BUSINESS WIRE)--April 9, 1997--PaineWebber Inc. said today that Randy M. Masel has been promoted to the newly created position of head of Credit Research at the firm.

A managing director, Masel previously headed PaineWebber's Corporate Bond Research department.

The director of the Fixed Income Division, Steven P. Baum, said Masel's appointment will enhance the integration and coordination of the firm's various credit research departments (High Yield, Corporate Bond and Emerging Markets) through the formation of a unified Credit Research department. Masel will report to J.J. McKoan, director of Emerging Markets, Corporate Bond and High Yield Trading.

Succeeding Masel as head of Corporate Bond Research will be Joseph J. Labriola. Labriola joins the firm as a managing director and was previously with Deutsche Morgan Grenfell, where he was co-head of Global Credit Research. Prior to that he ran Corporate Bond Research at Kidder, Peabody.

Joining Labriola in Corporate Bond Research are Michael D. Robertson as senior vice president and industrial analyst and Lygia X. Campbell as vice president, insurance and non-bank financial institution analyst. Both join the firm from similar capacities at Deutsche Morgan Grenfell and previously worked as analysts at Kidder, Peabody.

Paine Webber Group Inc. together with its subsidiaries, serves the investment and capital needs of a world wide client base. The firm employs 15,780 people in 298 offices.

CONTACT: PaineWebber Inc.

Tom Borden, 212/713-8503