NationsBanc Montgomery Securities, a subsidiary of BankAmerica Corp. of Charlotte, has hired Steve Gallagher and Jeffrey Smith as managing directors in its high-grade fixed-income group.

Mr. Gallagher will head global high-grade trading in Charlotte. He will be responsible for Yankee bonds, euros, preferred stock, and asset-backed securities. He was a Bear Stearns managing director, and earlier was with Merrill Lynch.

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