BANK OF AMERICA CORPORATION

(BAC)
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Bank of America : Grows its Global Foreign Exchange and Emerging Markets Macro Trading Team

06/23/2022 | 08:06am EDT

Bank of America announced that its Global Foreign Exchange and Emerging Markets Macro business has grown by more than 30 trading professionals since 2020. The effort is led by Carlos Fernandez-Aller, head of Global Foreign Exchange and Emerging Markets Macro Trading in partnership with Denis Manelski, Global Head of Sales.

"We are fully committed to growing this business, which is reflected in the investment in our platform and the number of hires we've made. We are excelling because of our global focus, our ability to service clients locally, in the Americas, Europe and Asia, and our ability to quickly respond to market conditions," said Carlos Fernandez-Aller.

Some of the recent hires include:

  • Funda Celik joined as Head of CEEMEA Local Currency Trading, based in London.
  • Thomas Cobbold joined as Head of Global Emerging Markets FX Options Trading, based in London.
  • Tobias Jungmann joined as Head of Americas FX Options Trading, based in New York.
  • Pedro Ossa joined as Head of Andean Local Currency Trading, based in New York.
  • Julian Weiss joined as Head of Global G10 Vanilla FX Options, based in London.

Championed by Jim DeMare, President of Global Markets, the Global Foreign Exchange and Emerging Markets Macro trading teams were unified in 2019 to create a single team. In addition to investing in top-tier talent, the bank also invested in its electronic FX offering. To date, efforts have yielded significant returns with market share increases of more than 20% across G10 FX and EM.

"As a leading participant in global FX markets, we made the decision in 2019 to make a significant investment to widen and deepen our product offering and expand our footprint and franchise reach in this market to better serve clients. As a result of our investment, we are now seeing results across all areas that demonstrate our strategic vision is paying off," Jim DeMare, President of Bank of America.

Bank of America continues to strengthen its global presence in response to client demand, and provides unprecedented global reach across Latin America, the U.S., Central, Eastern Europe, Middle East and Africa, and Asia in all products. Bank of America offers an innovative and wide-ranging product suite, specializing in EM FX and Options in both voice and electronic flow, with seamless execution locally and globally.

"Bank of America's dominant position as a liquidity provider was strengthened further following major market turmoil at the beginning of the year," said Denis Manelski. "Our ability to source significant offsetting flows has been key in providing our clients with solutions that were essential to responding to market volatility."

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with more than 54 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, register for email news alerts.

Reporters may contact:

Sheryl Lee, Bank of America
Phone: 1.657.234.9950
sheryl.lee2@bofa.com

Disclaimer

Bank of America Corporation published this content on 23 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2022 12:05:05 UTC.


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Financials (USD)
Sales 2022 94 179 M - -
Net income 2022 26 919 M - -
Net Debt 2022 - - -
P/E ratio 2022 9,61x
Yield 2022 2,75%
Capitalization 254 B 254 B -
Capi. / Sales 2022 2,70x
Capi. / Sales 2023 2,49x
Nbr of Employees 208 000
Free-Float 99,8%
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Brian T. Moynihan Chairman, President & Chief Executive Officer
Alastair Borthwick Chief Financial Officer
Catherine P. Bessant Vice Chairman-Global Strategy
Aditya Bhasin Chief Technology & Information Officer
Steve D. Boland Chief Administrative Officer
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