John S. Chalsty has been named president of Donaldson, Lufkin & Jenrette Inc.
Chalsty, chairman of the New York securities firm's Capital Markets Group, succeeds John K. Castle, 45, who resigned to establish a private equity investment firm, the company said.
The new president was expected to assume the office today after formal approval by DLJ's directors, the company said.
Chalsty, 53, a native of South Africa who became a U.S. citizen in 1964, worked for Exxon for 12 years before joining DLJ as an oil analyst in 1969.
He later was named director of research and head of the firm's investment banking division and then, in 1984, chairman of its capital markets group.