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.

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