Arnold E. Spangler has been named a...

Arnold E. Spangler has been named a managing director of the Paine Webber Inc. investment firm and will join Robert A. Hastings as co-head of its mergers and acquisitions department.

Spangler, 41, moved to Paine Webber from Lazard Freres & Co., where he spent the past 13 years in its mergers and acquisitions group, the last seven as a general partner.

Spangler joined Lazard Freres in 1976 as an associate in the M&A; department. In 1980, he was promoted to vice president and in 1983, he was made a general partner.