Legg Mason Inc., Baltimore, has hired another NationsBank Corp. brokerage executive.
Eric S. Williams, formerly of TradeStreet Investment Associates, the Charlotte, N.C., banking company's investment advisory unit, joined the securities firm this month. He was hired as a first vice president and director of investment strategies, a new post. He joins Andrew M. Silton, former president of TradeStreet, hired by Legg Mason in May as chief operating officer of its asset management group.
Mr. Williams joins Legg Mason Portfolio Management, the investment advisory division. He said he would be managing equity portfolios for private clients and devising investment strategies to build the firm's fee- based business.
He was at Charlotte-based NationsBank for 12 years, where his most recent duties included managing the Nations Equity Income Fund, a roughly $1 billion portfolio. Julie Hale now manages that fund, said Mr. Williams.
There have been several departures from TradeStreet in recent months, which some attribute to concerns that NationsBank's recent acquisition spree may result in cuts. Mr. Williams, however, said his was a "career development decision. It's an area where I can be involved in the growth of the business directly."
Compiled by Niamh Ring