Merrill Lynch & Co. of New York has hired a five-member team from Deutsche Asset Management of New York for a new division to create quantitative and index mutual fund and institutional products. The team consists of Frank Salerno, Anthony Conroy, Phil Green, Sid Hoots and Rick Vella. They will report to Dean D'Onofrio, managing director of the new division, Merrill Lynch Quantitative Advisors.

James Fox has been promoted from chief operating officer to president of the first data investor services group of First Data Corporation of Atlanta, Ga. He succeeds Jack Kutner, who has resigned but will continue serving the company as special projects advisor.

Merrillyn Kosier has joined Ariel Capital Management of Chicago as senior vice president and director of mutual fund marketing. Kosier is charged with developing Ariel mutual funds' image among individual investors, distributors and 401(k) plan sponsors. Kosier was previously with Acorn Investment Trust of Chicago as senior vice president, in charge of marketing and shareholder communications.

The Security Benefit Group of Companies of Topeka, Kan., has promoted two executives. Kal Bakk is now senior vice president of strategic business development and Tom Swank has become senior vice president, chief investment officer and director of fixed income.

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