Bank of America Securities has hired Christopher Carpou as a secondary institutional trader and Douglas R. MacKay as an institutional salesman.

Both will work in San Francisco for the municipal finance group of the Bank of the America Corp. unit. The hirings complete an effort to strengthen services to institutional clients, the group said.

Mr. Carpou came from the Municipal Partners firm in Los Angeles.

He has 17 years of experience and will report to Curtis J. Hagfeldt, head of municipal trading and underwriting.

Mr. MacKay came from Deutsche Banc Alex. Brown in New York.

He has 10 years of experience and will report to Phil Smith, national sales manager.

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