Bradley Berggren, head of the structured products group for equity derivatives at Banc of America Securities in New York, resigned last week. Berggren, who joined the firm in the merger with NationsBanc Montgomery Securities several years ago, reported to Jonathan Sandelman, managing director and executive committee member. Sandelman said Berggren decided to quit because he wanted a lifestyle change. Berggren could not be reached for comment.
Berggren decided to join a fund of funds in his home state of Connecticut and reduce his daily commute from three hours to about 15 minutes, Sandelman continued. BofA is working on finalizing a replacement for Berggren, Sandelman continued. He declined to provide further details.
