NEW YORK, June 8 (Reuters) – Financial institution of America Corp (BAC.N) promoted the top of its Latin America enterprise, Alex Bettamio, to co-head of worldwide funding banking alongside Thomas Sheehan, in accordance with a memo seen by Reuters on Thursday.
The management change was one in all a number of introduced by the second largest U.S. financial institution. It additionally elevated Faiz Ahmad to collectively lead world capital markets with Sarang Gadkari. Ahmad at present runs the World Transaction Providers (GTS) unit.
Elif Bilgi Zapparoli, who at present serves as co-head of worldwide capital markets, will develop into head of worldwide consumer technique, reporting to Bernie Mensah, BofA’s high government accountable for its abroad companies.
Financial institution of America’s investment-banking income rose 19% to $6.2 billion within the first quarter, its second-best quarter for income, at the same time as funding banking charges sank 20%.
The memo additionally outlined different personnel strikes.
Mark Monaco will take over GTS along with his present function main the corporate’s funds enterprise.
Augusto Urmeneta was named president for Latin America, succeeding Bettamio.
Jiro Seguchi, co-president of Asia Pacific, will retire.
Jin Su will develop into the financial institution’s sole president for the Asia Pacific area when Seguchi retires. Peter Guenthardt will lead world company funding banking within the area.
Reporting by Lananh Nguyen; Enhancing by Lisa Shumaker
Our Requirements: The Thomson Reuters Belief Ideas.
