(Corrects in first line to indicate Bank of America's Merrill Lynch wealth management unit, not the investment bank, hired Axelrod)
NEW YORK, March 29 (Reuters) - Bank of America Corp's Merrill Lynch wealth management business said Thursday that it hired Susan Axelrod, a former top official at the Financial Industry Regulatory Authority, to be the firm's chief supervisory officer starting in May.
Axelrod takes over from Michelle Carter. In March, Carter joined Bank of America's U.S. Trust division, where she leads business planning, governance and controls.
Axelrod will report to Merrill Lynch Wealth Management Head Andy Sieg. She left FINRA in January after 28 years with the securities industry's self-regulator.
Axelrod's last job with the organization was as executive vice president for regulatory operations. (Reporting By Elizabeth Dilts )