BofA Mortgage Trader Miller Leaves for a Life After Wall Street

Michael W. Miller, who headed Bank of America Corp.’s trading of some U.S. mortgage bonds, left the company this week with plans to find work away from Wall Street.

Miller, who traded bonds known as agency pass-through securities, joined the Charlotte, North Carolina-based bank in 2000 from Prudential Securities, where he had worked since 1992, according to regulatory records.

“It’s been 24 years of doing the same thing and it’s the right time to consider what I want to do with the next 24 years of my life,” Miller, 46, said in a telephone interview.

Zia Ahmed, a Bank of America spokesman, declined to comment.

Miller’s area in the company’s fixed-income division has been among those seeing personnel changes in recent months, with Brian Carosielli being named head of global securitized products following the promotion of James DeMare, who previously held that role. DeMare became a co-head of global fixed-income, currencies and commodities trading on Jan. 1, after predecessor David Sobotka left the bank last year.

Miller said that “while you never say never,” he expects what he does next will be in a different field that allows him to spend more time with his family. The hardest part of his decision is leaving behind the “daily interactions with the people you grew up with and respect in the business,” he said.