Exclusive-Bank of America promotes Bettamio to co-head of financial investment banking; Ahmad to co-head capital markets By Reuters

© Reuters. An individual strolls past a Bank of America check in the Manhattan district of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegri

By Lananh Nguyen

NEW YORK CITY (Reuters) – Bank of America Corp (NYSE:) promoted the head of its Latin America company, Alex Bettamio, to co-head of worldwide financial investment banking together with Thomas Sheehan, according to a memo seen by Reuters on Thursday.

The management modification was among numerous revealed by the 2nd biggest U.S. bank. It likewise raised Faiz Ahmad to collectively lead worldwide capital markets with Sarang Gadkari. Ahmad presently runs the Global Transaction Services (GTS) system.

Elif Bilgi Zapparoli, who presently acts as co-head of worldwide capital markets, will end up being head of global customer method, reporting to Bernie Mensah, BofA’s magnate in charge of its abroad companies.

Bank of America’s investment-banking earnings increased 19% to $6.2 billion in the very first quarter, its second-best quarter for earnings, even as financial investment banking costs sank 20%.

The memo likewise described other workers relocations.

Mark Monaco will take control of GTS in addition to his existing function leading the business’s payments company.

Augusto Urmeneta was called president for Latin America, being successful Bettamio.

Jiro Seguchi, co-president of Asia Pacific, will retire.

Jin Su will end up being the bank’s sole president for the Asia Pacific area when Seguchi retires. Peter Guenthardt will lead worldwide business financial investment banking in the area.


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