Wit SoundView

( WITC) named Mark F. Loehr as its new chief executive, effective immediately.

Wit Soundview, a banking and brokerage firm based in New York, said Loehr was previously co-president. He joined Wit SoundView in March 1999 as head of investment banking and became co-president in June 2000.

Loehr succeeds Robert H. Lessin, who will continue to act as the company's chairman. Russell Crabs, also formerly co-president, was named president.

Shares of Wit SoundView dropped 72 cents, or 19.2%, to $3.03 in recent

Nasdaq

trading.