Bank of America Merrill Lynch [BAC] has made three appointments in its global capital markets business. The bank named Alastair Borthwick and Lisa Carnoy co-heads of global capital markets, and Rupert Hume-Kendall as chairman of global capital markets.
The appointments follow Bruce Thompson’s recent rise to chief risk officer for Bank of America. He was formerly the head of global capital markets.
Borthwick and Carnoy will be responsible for building out the global capital markets business, sharing responsibility equally for the global division. They will report to Tom Montag, global banking and markets president.
“By any measure, our global capital markets business is one of the best in the world, known for providing companies with access to capital in any environment through creative solutions and our deep distribution capabilities. I’m confident that Alastair, Lisa and their teams will continue the great work in leading and growing our premier debt and equity capital markets platform,” Montag said in a statement.
Hume-Kendall will work with Borthwick and Carnoy. He will report to Andrea Orcel, executive chair of global banking and markets.
“In this role, Rupert will partner with client coverage and product teams and apply his considerable talents to provide ideas, innovative solutions, and superior execution to Bank of America Merrill Lynch clients,” Montag said.
Previously, Borthwick was head of global investment grade capital markets, a position he held since joining the company in 2005. Carnoy, a 15-year veteran of the company, was most recently head of global equity and equity-linked capital markets.