Bill Carey joined Bank of America as managing director of business retirement solutions. It is a new position. In an interview, Mr. Carey said his focus will be on developing a strategy to accelerate the growth of the groups institutional retirement business in both the 401(k) and defined benefit markets. He will report to Cary Grace, midmarket institutional executive in BoAs new retirement and global wealth and investment management client solutions group. Mr. Carey was executive vice president of national accounts for Fidelity Investments Institutional Services. A Fidelity spokeswoman couldnt immediately provide information on whether Mr. Carey had been replaced.