Bank of America Corp has hired Loh Boon Chye, a Deutsche Bank AG veteran, as head of Asia Pacific global markets, according to an internal memo obtained by Reuters.
Bank of America is taking on board a former leader of markets and corporate and investment banking divisions as it seeks to integrate those two businesses across the region. The markets division comprises equities, fixed-income, currencies and commodities.
Loh's appointment marks the first time these businesses have been managed by a single leader in Asia.
In addition to the title of head of Asia Pacific global markets, a new role for the bank, Loh will be deputy president for Asia Pacific and country executive for Singapore and Southeast Asia, the memo said. He will start work in December and will join the bank's executive committee for Asia Pacific.
A spokesman for Bank of America Merrill Lynch confirmed the contents of the memo but declined to comment further.
Loh, a Singaporean known as one of the chief architects of Deutsche Bank's Asia markets business, left in March after 17 years at that firm.
(Editing by Michael Flaherty and Matt Driskill)