Another senior executive within Bank of America’s fixed-income group is headed for the door.
Michael Nierenberg, head of global mortgages and security products, is leaving for private-equity firm Fortress Investment Group, The Post has learned.
Nierenberg, who joined the bank five years ago during the financial crisis, will be replaced by James DeMare, who was head of North American mortgages and securitized products trading.
Nierenberg’s departure comes just a day after 18-year veteran Gerhard Seebacher told co-workers that he was retiring as co-chief of the bond, currency and commodities business.
The Post first reported Seebacher’s decision to step down.
In addition, another senior executive, Will Roberts, will take on a newly created role as head of global rates and structured credit trading, sources said.
A BofA spokesman declined to comment.
A bank official told The Post the moves were “coincidental” and not part of a broader strategy shift under investment banking chief Thomas Montag as sources have speculated.
Nierenberg was at Bear Stearns before it was acquired by JPMorgan Chase. He went on to join Merrill Lynch, which was later purchased by BofA. He also did a stint at Lehman Brothers.