Executives at NationsBank Corp.'s Montgomery Securities unit are demanding that the banking company renegotiate their contracts in the wake of a plan by NationsBank to take control of Montgomery's high-yield bond business.

In a memo Wednesday, the Charlotte, N.C., banking company said NationsBank's Thomas White would run high-yield trading, research, and sales when NationsBank completes its planned merger with BankAmerica Corp. this year.

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