Greg Bundy will become chief operating officer of Merrill Lynch Asset Management, starting June 1. This is a new post at the firm, which has $281 billion in mutual fund assets under management. Bundy is currently co-ceo of Merrill Lynch Australia and joined the firm in 1984.

Mark Strazzeri has been promoted at MainStay Institutional Funds of Parsippany, N.J., to director of institutional investments. In this role, he will be responsible for introducing MainStay funds to retirement plan consultants. Strazzeri has been with MainStay for two years as national sales manager for the broker/dealer channel in the western region.

Bank of America Asset Management has hired two investment strategy professionals. Preston Estep is now senior vice president and chief quantitative strategist at the firm, while John Zimmerman is now senior vice president and senior investment strategist.

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