Bank Of America's Recent Executive Changes Amid Global Investment Bank Revamp

Bank Of America Corp BAC named Asia-Pacific President Jin Su as the region's head of global markets and appointed leaders for fixed-income, currencies, and commodities trading and sales.

Su will continue to lead the region as president and chair of the Asia Pacific executive committee, Bloomberg cites an internal memo.

The firm named Patrick Law as the head of the region's fixed income, currencies, and commodities trading, and Neelkanth (Piddi) Parekh was appointed head of sales for the division.

Su, co-president of the region since 2019 and sole president in early June, has spent over 25 years in trading and management in London and Hong Kong.

The newly-created role for Su in Asia follows a global revamp in its investment bank, including naming Faiz Ahmad, the former head of global transaction services, as co-head of global capital markets alongside Sarang Gadkari.

Joydeep Sengupta, co-head of Asia Pacific FICC sales and trading, has decided to leave the firm after more than 28 years to pursue other interests. 

Law and Parekh will join the executive committee and retain their roles as head of foreign exchange trading and head of structuring and client solutions, respectively. Together with Xavier Feschet, recently named head of Asia Pacific equities, they will support Su in developing the global markets business in the region.

Last week, Goldman Sachs Group, Inc GS lost its investment banker Tammy Kiely to Evercore Inc EVR.

Kieli, who had been at Goldman since it went public in 1999, was also co-head of the firm's technology investment-banking group with a role in several major semiconductor deals.

Price Action: BAC shares traded higher by 0.56% at $28.82 premarket on the last check Friday.

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