Exclusive: Bank of America promotes Bettamio to co-head of investment banking; Ahmad to co-head capital markets

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A person walks past a Bank of America sign in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegri Purchase Licensing Rights, opens new tab
NEW YORK, June 8 (Reuters) - Bank of America Corp (BAC.N), opens new tab promoted the head of its Latin America business, Alex Bettamio, to co-head of global investment banking alongside Thomas Sheehan, according to a memo seen by Reuters on Thursday.
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.
Elif Bilgi Zapparoli, who currently serves as co-head of global capital markets, will become head of international client strategy, reporting to Bernie Mensah, BofA's top executive in charge of its overseas businesses.
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%.
The memo also outlined other personnel moves.
Mark Monaco will take over GTS in addition to his current role leading the company's payments business.
Augusto Urmeneta was named president for Latin America, succeeding Bettamio.
Jiro Seguchi, co-president of Asia Pacific, will retire.
Jin Su will become the bank's sole president for the Asia Pacific region when Seguchi retires. Peter Guenthardt will lead global corporate investment banking in the region.

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Reporting by Lananh Nguyen; Editing by Lisa Shumaker

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Lananh Nguyen is the U.S. finance editor at Reuters in New York, leading coverage of U.S. banks. She joined Reuters in 2022 after reporting on Wall Street at The New York Times. Lananh spent more than a decade at Bloomberg News in New York and London, where she wrote extensively about banking and financial markets, and she previously worked at Dow Jones Newswires/The Wall Street Journal. Lananh holds a B.A. in political science from Tufts University and an M.Sc. in finance and economic policy from the University of London.

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