Bank of Boston Corp. has promoted Kathyrn Cade to group managing director of global derivatives and financial engineering.
She is responsible for interest rate and structured derivative products, as well as research in the capital markets trading business.
Ms. Cade was managing director and head of the bank's fixed- income securities sales and trading group, and financial engineering. Before joining the bank in 1983, she was director of projects for First Lady Rosalynn Carter.
Paul J. Callahan was hired as managing director of high-yield sales. Mr. Callahan, who is responsible for selling high-yield debt securities to institutional investors, reports to Steven A. Shenfeld, managing director and head of high yield securities. Mr. Callahan was director of high-yield sales at Nomura Securities International Inc., New York.