A person walks past a Bank of America sign in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegripromoted the head of its Latin America business, Alex Bettamio, to co-head of global investment banking alongside Thomas Sheehan, according to a memo seen by Reuters on Thursday.
The leadership change was one of several announced by the second largest U.S. bank. It also elevated Faiz Ahmad to jointly lead global capital markets with Sarang Gadkari. Ahmad currently runs the Global Transaction Services unit. Elif Bilgi Zapparoli, who currently serves as co-head of global capital markets, will become head of international client strategy, reporting to Bernie Mensah, BofA's top executive in charge of its overseas businesses.
rose 19% to $6.2 billion in the first quarter, its second-best quarter for revenue, even as investment banking fees sank 20%.Mark Monaco will take over GTS in addition to his current role leading the company's payments business.Jiro Seguchi, co-president of Asia Pacific, will retire. Jin Su will become the bank's sole president for the Asia Pacific region when Seguchi retires. Peter Guenthardt will lead global corporate investment banking in the region.Lananh Nguyen is the U.S. finance editor at Reuters in New York, leading coverage of U.S. banks. She joined Reuters in 2022 after reporting on Wall Street at The New York Times.
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