BOSTON - State Street Corp. has hired 12 institutional fixed-income analysts from Wachovia Securities Inc.

The analysts had worked as a team for Wachovia Securities' municipal finance unit in Winston-Salem, N.C. When the unit was dissolved in September, they remained with Wachovia in different departments.

They are expected to join State Street's municipal finance unit in December. The unit is based in Boston, but Chris Boudreau, who managed the team at Wachovia, will run it from State Street's Atlanta office.

State Street now offers no municipal finance products, said Hilliard Ebling, a senior vice president. He said the former Wachovia team will sell them through four offices: Atlanta; Charlotte, N.C.; New York; and San Marino, Calif.

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