A.B. "Buzzy" Krongard, a cigar-chomping former investment banker and martial arts enthusiast, was named yesterday executive director of the CIA, bringing a fast-paced management style to the agency's No. 3 job.

Krongard exhibited the requisite secretiveness when asked to explain his interest in intelligence and how he came to land a job in [George J. Tenet]'s inner circle. If you go back to the CIA's origins during World War II in the Office of Strategic Services, he explained, "the whole OSS was really nothing but Wall Street bankers and lawyers."

Krongard received a rave review from former deputy director of operations Jack Downing, an agency legend. "I have a lot of respect for Buzzy," Downing said. "He knows business and financial markets and all that. But he's been privy to everything since he's been there, sitting at George's right hand, so he certainly knows the agency. I personally would be very happy to serve in that agency with Buzzy as executive director."