Bank of America Hires Cabana From N.Y. Fed for Rates Strategy

Bank of America Corp. has hired Mark Cabana from the Federal Reserve Bank of New York to head U.S. short rates strategy, according to a company memo obtained by Bloomberg.

Melissa Anchan, a spokeswoman at Bank of America, confirmed the contents of the memo. Cabana, 36, started Monday in New York and reports to Ralf Preusser, global head of rates strategy.

Cabana most recently worked as an officer in the markets group at the New York Fed, where his responsibilities included analyzing global macroeconomics. He was previously a senior analyst and trader in the Treasury market policy group, after joining the New York Fed in 2007, according to the memo.

Charlotte, North Carolina-based Bank of America is one of 22 primary dealers obligated to bid at Treasury auctions.