The BofA Shuffle

Bank of America Merrill Lynch names Paul Donofrio head of global corporate banking.


Bank of America Merrill Lynch underscored its priority on expanding internationally — and its penchant for reshuffling top managers — by naming London-based American Paul Donofrio, 49, head of global corporate banking last month.

It was the former health care deal maker’s second promotion in six months: In September he became one of three co-heads of global corporate and investment banking. This latest move is in part a reward for Donofrio’s role in melding BofA’s and Merrill’s corporate and investment banking businesses. He reports to ex-Goldmanite Thomas Montag, the bank’s president of global banking and markets.