Bank of America
said Monday it has hired two prominent Wall Street names from competing banks to lead its North America economics and U.S. equity strategy teams.
Ethan Harris will join BofA as head of North America economics from
, where he holds the position of chief U.S. Economist, and David Bianco will become BofA's head of U.S. equity strategy, leaving
, where he holds a similar role.
Harris, who served in the same capacity at
since 2003 and maintained that role when Barclays acquired Lehman assets last year, will be charged with overseeing the North America economic outlook at BofA, as well as calls on the
interest rate decisions.
He holds an assortment of awards and accolades for his work, and served at the Federal Reserve Bank of New York for nine years before joining Lehman in 1996. He was also an international economist at
and authored the book
Ben Bernanke's Fed: The Federal Reserve After Greenspan
Bianco, in his new role at BofA, will forecast the outlook for U.S. stocks and oversee allocation recommendations. He joined UBS in 2002 and previously worked at
as chief U.S. quantitative strategist and
as a senior equity analyst. He has also served on the Financial Accounting Standards Board's Advisory Council since 2005.
BofA has also named Michael Hartnett head of its research investment committee and global equity strategy. In those roles, Hartnett will work to develop an allocation plan for investments around the world.
"All three professionals bring extensive knowledge of the markets and economy and will instill the appropriate levels of investment discipline, intellectual drive and client focus necessary to ensure we create innovative investment ideas," Adam Quinton, head of global macro research, said in a statement.
Bianco will begin in July, while Harris will start in September. Both will be based in New York and report to Quinton.