Bank of America Corp. is reshuffling some key posts in its wealth management business.

Sallie Krawcheck, hired last month to run the business, made the announcements Tuesday in an internal memo that named her direct reports. The executives include eight from Merrill Lynch & Co., two from B of A, and an outside hire from Citigroup Inc. B of A bought Merrill in January; Krawcheck was a Citi executive until leaving late last year.

Notably, the company hired Andrew Sieg to lead retirement and philanthropic services, overseeing programs for workplace-based benefit plans and personal retirement functions. Sieg recently had been the head of Citi's emerging affluent client segment.

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