B of A Said to Raid NationsBank Unit

BankAmerica Corp. has tapped a NationsBank Corp. executive for its high-yield sales and trading group, sources said.

The San Francisco-based banking company is expected to announce this week that it has wooed William Remitt from his job as managing director in NationsBank's high-yield trading group, several bankers said.

BankAmerica declined to comment, and NationsBank did not respond to phone calls by press time. Mr. Remitt, who was reportedly already on BankAmerica's Chicago trading floor Tuesday, could not be reached for comment.

BankAmerica has been rebuilding its high-yield trading group since John Hakala, head of high-yield sales and trading, and his deputy Jerry Bias, left last month.

They departed after pulling a $150 million offering for Station Casinos, BankAmerica's first lead mandate, which it solely underwrote. Jim Baldino, head of the high-grade trading team, has been leading BankAmerica's group on an interim basis.

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