BofA names head of high-yield unit

Bank of America Corp. said Wednesday that it had hired a top trader from Credit Suisse to head its division of high-yield sales and trading. Neil Yaris, who will join the bank in November, will be based in New York City and report to the head of global credit sales and trading.

Charlotte-based Bank of America ranks first in new U.S. high yield issuance, according to Bloomberg data.