It's that time of the year again in the structured finance industry: musical chairs has begun on the Street.

On the heels of MBS and ABS research head Jim Titus' migration from Donaldson, Lufkin & Jenrette Securities Co. to GMAC Commercial Mortgage (MBSL 3/6/00), DLJ has hired six residential mortgage-backed securities traders to its shop, and is said to be interested in a major asset-backed securities player for its roster. At the same time, Chase Securities Inc. acquired two former DLJ executives to join the company's MBS trading department.

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