Banc of America Securities has hired Dave Fergione, the former head of high-grade, fixed-income at BNP Paribas in New York to the new position of managing director, corporate bond trading, based in the firm's Charlotte, N.C., headquarters. Fergione's move marks his second stint with Banc of America. He left BNP at the end of last year (BW, 12/23) in what he characterized as a mutual decision during an interview last Monday.
Stephen Gallagher, global head of high-grade trading, says he hired Fergione as part of B of A's effort to become a top-three trading house. Toward that same end, the firm is moving Eric Williamson, an 18-year trading veteran who had been based in London, to fill another new trading spot in Charlotte. Gallagher says he considers the London desk to be adequately staffed due to two hires he made there last year. He hopes to make a couple of additional hires for either New York or Charlotte when he finds qualified candidates, he says.