Former Navy Secretary John F. Lehman Jr. has joined the investment banking division of Paine Webber as a managing director, the firm announced Thursday.

"His exceptional management skills and experience in a broad range of industries, including high technology, aerospace and defense, will enhance the firm's professional capabilities and benefit our client base," Donald B. Marron, Paine Webber chairman and chief executive, said in a statement.

Lehman, 45, was appointed Navy Secretary by President Reagan in 1981, a position he held until resigning last April. Before that appointment he was president of Abington Corp., a consultant to military contractors.

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