Bank of America has named a new director for its Global Wealth & Investment Management division’s Consulting Services Group (CSG). The group, which ended 2005 with over $28 billion in assets, will now be led by Reed Murphy.

CSG provides product development, research, due diligence and client reporting associated with separate accounts and non-proprietary mutual funds to the firm’s institutional and wealthy clients.

Murphy, most recently the director of CSG Research and Portfolio Management, is Boston-based and will report to Investment Products Group Executive Dan McNamara, who previously led CSG.

In his new role, Murphy will oversee fee-based investment programs and the selection of non-proprietary funds made available to clients via Bank of America Premier Banking & Investments, The Private Bank of Bank of America and its extension, Family Wealth Advisors.

In his earlier stint at CSG Research and Portfolio Management, Murphy was tasked with managing CSG’s discretionary mutual fund and separate account programs. Before joining Bank of America in 2002, he held leadership roles at several financial institutions, including First Union Securities and A.G. Edwards & Sons.

The Global Wealth & Investment Management division had over $738 billion in assets under administration as of December 31. 

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