John C. Chigounis and Eduardo L. Cortes were hired as global high-yield managers by Reich & Tang Capital Management, an Nvest affiliate. Each will manage separate accounts for institutional clients. Mr. Chigounis was managing director, portfolio manager and head of J.P. Morgans high-yield portfolio management team before retiring in March. He managed $5 billion in institutional separate accounts at J.P. Morgan and was replaced by Martha Metcalf in an internal shift of duties, said Kate Cadett, a spokeswoman. Mr. Cortes was also a high-yield bond portfolio manager at J.P. Morgan and headed its emerging markets debt team until 1998, when he left to found Global Investment Advisors, which was absorbed by Reich & Tang.