Moving Up

* The New York Stock Exchange has promoted Noreen M. Culhane, David P. Doherty, Salvatore Pallante and Robert T. Zito to executive vice presidents, from senior vice presidents.

Ms. Culhane, 50, is responsible for attracting companies to list on the Big Board and maintaining positive relationships with listed companies. She manages four geographic regions, as well as the marketing and sales support function, the initial public offering process and structured products. Before joining the exchange in 1997, she spent 20 years with IBM Corp.

Mr. Doherty, 60, is responsible for the investigation and prosecution of violations of the federal securities laws and the exchange’s rules and regulations. He manages a staff of approximately 100 attorneys who litigated more than 230 cases last year. He joined the exchange in 1988. Earlier, Mr. Doherty was general counsel at the Central Intelligence Agency and served in various positions at the Securities and Exchange Commission.

Mr. Pallante, 54, is responsible for ensuring that member firms comply with the rules and regulations of the exchange and the SEC. Before joining the exchange in 1973, he held accounting positions with a number of firms.

Mr. Zito, 47, is responsible for the exchange’s brand management. He has held various communications positions with Sony Corp., CN Communications International, Hill & Knowlton and the Bridgeport Post and Telegram. He worked previously with the NYSE in the late 1980s before rejoining the exchange as a senior vice president in 1994.

* The Dreyfus Corp. in New York has named Ursula C. Carty, 39, executive vice president and director of distribution marketing, and Laura Mulhall, 39, executive vice president and head of the independent financial planning sales division.

Ms. Carty will oversee Dreyfus’ distribution marketing efforts through all sales channels, including broker-dealers, financial planners, insurance companies, institutional clients and individual investors. She spent the last 16 years with PaineWebber Inc. in New York, most recently as senior vice president of product management and development in the asset management division.

Ms. Mulhall will be responsible for driving Dreyfus’ sales through its newly formed independent financial planner sales division. She will be responsible for all retail fund sales at Dreyfus.

Ms. Mulhall was senior vice president and director of the financial adviser division with OppenheimerFunds Inc. in New York, responsible for sales to financial planners, insurance companies, broker-dealers and small regional brokerage firms. During her 11 years at Oppenheimer, she also served as director of national accounts.

Also, Dreyfus has appointed Stephen Buell director of equity research.

Mr. Buell, 49, spent the last eight years with ING Groep – at ING Barings and later at Furman Selz, which was acquired by ING in 1997.

Upon joining Furman Selz as a pharmaceutical and biotechnology analyst, he assumed positions of increasing responsibility, including head of U.S. equity research, head of U.S. equities and most recently global head of equity research.

* Waddell & Reed Financial Inc. in Overland Park, Kan., has appointed Zachary H. Shafran, 35, senior vice president of Waddell & Reed Investment Management Co. and portfolio manager of the Waddell & Reed Advisors Science and Technology Fund, the W&R Science and Technology Fund and the W&R Target Science and Technology Portfolio.

Mr. Shafran, who has 13 years’ experience in the industry, joined Waddell & Reed in 1990 as an investment analyst. He was ap-

pointed portfolio manager of the W&R Target Small Cap Portfolio in 1996 and remained in that capacity until being appointed portfolio manager of the Waddell & Reed Advisors New Concepts Fund in 1999. He also was named portfolio manager of the W&R Mid Cap Growth Fund at its inception in June 2000.

The latter two funds will now be run by Kimberly Scott, 41, who has been appointed a vice president of the investment management unit. She joined Waddell & Reed in 1999 as an investment analyst covering a variety of industries. She had been an equity analyst with Bartlett & Co. in Cincinnati.

Barry Ogden, 31, a vice president of the investment management unit, has been named assistant portfolio manager of the Waddell & Reed Advisors Accumulative Fund. He has been with the company since 1994, most recently working as a senior investment analyst.

Gil Scott, 34, has been named vice president and assistant portfolio manager of the Waddell & Reed Advisors Small Cap Fund, the W&R Small Cap Growth Fund and the W&R Target Small Cap Portfolio. He joined Waddell & Reed in 1997 as an investment analyst.