People
Paul Jabansky, head of asset-backed securities research at Salomon Smith Barney, is transferring to Travelers Investment Management, another Citigroup Inc. unit. There, Jabansky will take on the title of portfolio manager.
Vincent J. Ciaglia has joined Global Fixed Income Advisors as a managing director and manager of the executive committee. Previously, Ciaglia was a principal and general partner at The III Group of Funds.
The United Technologies Corp. board membership has reached a total of 12, with the addition of Jamie S. Gorelick. Gorelick is currently a part of the three-person Office of the Chairman at Fannie Mae, serving as a vice chair.
Deetsy Armstrong will retire from the position of vice president and chief information officer for Safeco Corp. Chuck Stone has been named to replace Armstrong. Prior to this appointment, Stone served as the vice president of information systems for life and investments at Safeco.
Miscellaneous
BankVest Capital Corp., a Marlboro equipment leasing company that garnered millions of dollars in venture capital in recent years, has filed for Chapter 11 bankruptcy protection. A chapter 11 reorganization petition was filed against the company in December by Century Bank and Trust Co., ORIX Credit Alliance Inc. and Middlesex Savings Bank. The creditors claimed that BankVest owes them a combined $8.1 million.
Bank One Corp., has agreed to sell the U.K. card business of its First USA unit to Morgan Stanley Dean Witter & Co. First USA is looking to sell its credit card business in Canada and has been losing customers to competition.
