Bank of America has added Robert Whiteford to its structured securities team in New York, the bank said this week.
Mr. Whiteford, formerly of Barclays Capital, will help develop structured pension products, Bank of America said. He will initially focus on the stable value wrap business for the defined-contribution market.
San Francisco-based Bank of America has a stable-value wrap portfolio of more than $1 billion. Mr. Whiteford will work with a team of three executives who have developed that portfolio in the United States.
"This team plans to extend our structured investment products business internationally and to nonpension markets," said Jim Gill, managing director and head of the structured securities team. Mr. Whiteford reports to Mr. Gill.