Jeff Pagano, head of liquid market sales at J.P. Morgan, has left the firm for Banc of America Securities. Pagano, who did not respond to an e-mail and could not be reached by phone, will assume a similar role. He reported to Jeff Flug, head of all North American sales. Flug recently left on leave of absence, according to an official at the firm. He declined to comment. Melissa Fox, BofA spokeswoman, declined comment.