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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 makers 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 Donofrios role in melding BofAs and Merrills corporate and investment banking businesses. He reports to ex-Goldmanite Thomas Montag, the banks president of global banking and markets.