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BofA names new corporate, investment banking head for North America - memo

·1 min read
Person walks past a Bank of America sign in New York City

(Reuters) -Bank of America Corp on Monday named company veteran Mike Joo as its new head of global corporate and investment banking (GCIB) for North America, according to a memo seen by Reuters.

The newly created role will add to Joo's existing responsibilities as GCIB's chief operating officer (COO). Joo will report to GCIB president Matthew Koder.

"Mike’s extensive experience across the firm will enable him to fully utilize the entire Bank of America platform, including the Market Presidents, to leverage our expansive network and capabilities to deepen and broaden client relationships," Koder said in the memo.

The contents of the memo were confirmed by a Bank of America spokesperson.

In the new role, Joo will work closely with business leaders across capital markets, corporate banking, investment banking, and global transaction services, Koder added.

Joo has previously served as the COO for global markets, head of global rates and currencies solutions, and head of Asia debt capital markets in his over 15-year stint at Bank of America.

The North Carolina-based bank will announce a new chief of staff for GCIB in the coming weeks, according to the memo. Bloomberg reported on Joo's new role earlier on Monday.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Maju Samuel and Nick Zieminski)