Jiro Seguchi, co-head of Bank of America Merrill Lynch's investment banking business in Asia Pacific, will move from Tokyo to Hong Kong to become the sole head of those operations, according to an internal memo obtained by Reuters on Wednesday.
Jayanti Bajpai, who has been serving as co-head of Asia Pacific Global Corporate & Investment Banking (GCIB) with Seguchi, will move to London in the first quarter of 2014 to become vice chairman of the business for Europe, the Middle East and Africa, the memo said.
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A spokesman for Bank of America confirmed the contents of the memo.
The pair had been serving as co-heads of Asia Pacific investment banking for Bank of America Merrill Lynch since March 2009.
Seguchi has also been serving as country executive and president of Merrill Lynch Japan Securities. He will keep those responsibilities until a replacement is announced, the memo said.
(Reporting By Emi Emoto and Nathan Layne in TOKYO; Additional reporting by Lawrence White in HONG KONG; Editing by Matt Driskill)