Bank of America Corp., the second-biggest U.S. bank by assets, hired investment-grade bond trader Jon Klein from Credit Suisse Group AG, according to two people with knowledge of the move.
Klein will join as a managing director, said the people, who asked not to be identified because it hasn’t been announced publicly. Klein didn’t respond to messages left on his mobile phone. Kerrie McHugh, a Bank of America spokeswoman, and Drew Benson, a Credit Suisse spokesman, declined to comment.
Bank of America has been the second-biggest manager of investment-grade bond sales in the U.S. since the beginning of 2009, when it bought Merrill Lynch & Co., according to data compiled by Bloomberg. Credit Suisse was 10th most-active underwriter of the notes last year, from eighth four years earlier, the data show.
Klein departed Credit Suisse after almost six years at Switzerland’s second-biggest bank, before which he worked at Bear Stearns & Co. Inc., according to Financial Industry Regulatory Authority records.