Spector to Take Helm of TBMA; Hayes to Head Municipal Division

WASHINGTON - The Bond Market Association announced yesterday that it has elected Warren J. Spector, an executive vice president at Bear, Stearns Co., as its chairman and Roger G. Hayes, a managing director and e-commerce executive at Banc of America Securities, as the head of its municipal securities division for 2001.

Thomas M. Likovich, a managing director and head of debt markets for the Americas at Merrill Lynch & Co., will become vice chairman, and Patrice P. DeCorrevont, a managing director and co-manager the municipal bond department at Banc One Capital Markets Inc., will become treasurer.

Francis Y. Chin, head of public finance at Salomon Smith Barney Inc., was elected as vice chair of the association's municipal securities division. The association's new officers will serve one-year terms beginning Jan. 1.

Spector replaces David R. Warren, managing director for the securitized products group at Morgan Stanley Dean Witter. Hayes replaces Ann Kaplan of Goldman, Sachs & Co.

-- Lynn Hume