Bank of America is shaking up a huge trading business – here’s the memo

Bank of America is shaking up it equities business.

The US bank has made a slate of changes in the business, according to a memo seen by Business Insider.

Glenn Koh has been named global head of trading. Martina Slowey has been named global head of prime brokerage.

Bank of America Merrill Lynch did not comment in time for publication.

Here is the memo announcing the changes:

Global Equities leadership announcement
A message from Fab Gallo, head of Global Equities

To: Global Equities employees and support partners, and Global Research and Global Capital Markets employees

Over the last few years, we have broadened and diversified our client base achieving strong market share gains in electronic, financing and derivatives. In order to position the business for the next phase of growth and to anticipate key industry and regulatory trends, we are pleased to announce the following organizational changes:

Glenn Koh will take on a newly created role as head of Global Equities Trading, reporting to me. As our clients become more global, quantitative and unified across channels in their risk taking, Glenn will drive our capital commitment effort across regions and products.

Cyrille Walter will assume additional responsibilities as head of EMEA Trading and will continue to run client solutions and structuring globally, reporting to me.

Julien Bahurel will now serve as head of EMEA Equities including Central Eastern Europe,the Middle East and Africa (CEEMEA), reporting globally to me and locally to Alex Wilmot-Sitwell, president of EMEA. Michel Sindelar will lead EMEA distribution, reporting locally to Julien and globally to Soofian Zuberi, head of Global Equities Distribution.

Martina Slowey will take on responsibility for prime brokerage, custody and futures globally, reporting to me. She will continue to partner closely with Denis Manelski on futures. Jonathan Barton will join the firm in early May from the buy side to manage the global swaps product and stock loan, reporting to me. Together, Martina and Jonathan will lead our financing activities.

As recently announced, Paul Simpson will lead GBAM operations reporting to Cathy Bessant, Chief Operations & Technology Officer.

Syl Chackman has informed me of his decision to retire from the firm. Steve Bayardelle has also informed me of his decision to leave the firm to pursue other opportunities. We would like to thank Syl and Steve for their leadership and contributions to the equities business.

Please join me in welcoming Jonathan to the firm, in congratulating Glenn, Cyrille, Julien, Michel, Martina and Paul on their new roles and in wishing them all continued success.

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