Morgan Keegan & Co. of Memphis, Regions Financial Corp.'s brokerage and investment banking arm, promoted two executives to chief posts in its fixed-income operations.
Robert Baird, 56, is now president of fixed-income capital markets, and Kevin Giddis, 46, is head of fixed-income sales, trading, and research.
Mr. Baird had been an executive managing director and head of fixed-income investment banking. He succeeds John Carson, who was promoted to chief executive officer of Morgan Keegan in February.
Mr. Giddis joined the company in 1998 to manage a retail fixed-income trading desk.
Several bond funds operated by Morgan Keegan lost more than 50% of their value last year.
Regions Financial, which is based in Birmingham, Ala., announced the promotions on Monday.
