Sources say the deal for a senior group of Lynch Jones & Ryan executives to purchase the firm from Citicorp is progressing. LJR's management group has teamed up with the Transportation Group, an international investment banking firm to buy the firm. LJR handles trades in equities and fixed-income securities for over 1,000 institutional money management clients and 400 pension plan sponsors. The management group is headed by LJR's director of sales, Howard Schwartz, who will become chief

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