Zajac Feels The PaineWebber

POSITION KEEPING

PaineWebber named Paul Zajac to head its newly merged capital markets fixed income systems groups. That means he's in charge of all the front- to back-office systems and all new fixed income electronic trading. A particular challenge: "helping PaineWebber be a driving force in electronic trading of fixed income securities," he says. Zajac was previously a co-manager of fixed income systems, mainly responsibility for governments. His co-manager moved to the retail systems division prior to the

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