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MOVES-BAML reshuffles debt capital markets
October 19, 2016 / 5:01 PM / in a year

MOVES-BAML reshuffles debt capital markets

LONDON, Oct 19 (IFR) - Bank of America Merrill Lynch has reshuffled its debt capital markets team, appointing Andrew Karp and Brendan Hanley as co-heads of global DCM, according to an internal memo seen by IFR.

Karp previously co-ran the US bank’s Americas investment-grade capital market business with Hanley. They report to AJ Murphy, head of global capital markets.

BAML has realigned its combined DCM and corporate banking teams in Europe, Middle East and Africa. As a result, Marc Tempelman, who co-headed EMEA corporate banking and debt capital markets, has been appointed vice chairman of capital markets, reporting to Murphy and Bob Elfring, head of EMEA corporate and investment banking. He will focus on expanding strategic relationships with the bank’s key clients.

His former co-head, Fernando Vicario, will become sole head of EMEA corporate banking, reporting to Anne Clarke Wolff, head of global corporate banking and Elfring.

Jeff Tannenbaum is now head of DCM and syndicate for EMEA, a step-up from running DCM origination and syndicate. He now reports to Karp and Hanley on a product basis, and regionally to Elfring.

BAML also told staff on Wednesday it had appointed Diego de Giorgi as sole head of global investment banking as his previous co-head Karim Assef takes on a new role.

Assef and De Giorgi became co-heads of the newly created global investment banking division at the Wall Street firm in April 2015, with Assef based in New York and De Giorgi in London.

De Giorgi, who joined BAML from Goldman Sachs in 2013 as co-head of the lender’s Europe, Middle East and Africa corporate and investment banking, will remain in London, according to a memo sent to staff.

Assef, who has been at the bank for around 20 years, will become chairman of global investment banking, a newly created position to focus on client relationships based in New York. (Reporting by Helene Durand; Additional reporting by Pamela Barbaglia)

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