CHARLOTTE, N.C. - Banc of America Securities has hired Anthony J. Magro, a co-head of mergers and acquisitions at Bear Stearns Cos., as its new global head of mergers and acquisitions.

He succeeded Stefan Selig, whose future with the Bank of America Corp. unit was uncertain Tuesday. A spokeswoman said he would remain at Banc of America Securities for now, though his new duties have not been announced.

Mr. Magro, who co-founded Bear Stearns' M&A group in 1993, is based in New York and reports to Ed Carter, who became Bank of America's head of corporate and investment banking in December.

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