BoA Fills Top Corporate Bank Role

LONDON (Reuters) – Bank of America Merrill Lynch (BAC.N) named London-based Paul Donofrio as head of global corporate banking, a key appointment as it looks to grow the business internationally.

The bank is already an industry leader in corporate banking in the United States, it said in a statement, with top positions in sectors including cash management, treasury management and merchant services.

“The international expansion of our corporate banking business is one of Bank of America Merrill Lynch’s highest priorities and greatest growth opportunities,” Tom Montag, president of global banking and markets, said in the statement.

Donofrio’s appointment follows the announcement that Cathy Bessant, former head of global corporate banking, was named global technology and operations executive for the bank. (Reporting by Victoria Howley; editing by John Stonestreet)