Reuters exclusively reported that Bank of America Corp (BAC.N) promoted the head of its Latin America business, Alex Bettamio, to co-head of global investment banking alongside Thomas Sheehan. 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 (GTS) unit.
Bank of America promotes Bettamio to co-head of investment banking; Ahmad to co-head capital markets
The leadership changes were outlined in a memo seen by Reuters, who has also reported that Bank of America’s investment-banking revenue rose 19% to $6.2 billion in the first quarter, its second-best quarter for revenue, even as investment banking fees sank 20%.