Bank of America has hired Morgan Stanley's James Gold to lead its financial institutions group (FIG) in Europe, the Middle East and Africa, marking a significant shake-up of its FIG team, according to people familiar with the matter.
Key Appointment
Gold will join Bank of America as head of FIG for the EMEA region, based in London. He will start in the coming months, subject to any gardening leave. The move is a major coup for Bank of America, which has been looking to strengthen its FIG franchise.
Background
Gold has spent nearly two decades at Morgan Stanley, most recently as head of FIG for Europe, the Middle East and Africa. He has advised on some of the region's largest financial services deals, including the creation of NatWest's holding company and the sale of ABN Amro's commercial banking business.
Bank of America's FIG team has been led by interim head Tom Meehan since the departure of former head Chris Williams earlier this year. Williams left to join Citigroup as vice chairman of investment banking.
Impact on Team
Gold's arrival is expected to trigger a reshuffle of Bank of America's FIG team, with several senior bankers potentially leaving. The bank has been looking to expand its FIG business, particularly in the insurance and fintech sectors.
- Gold will report to Bank of America's EMEA investment banking head, James Bardrick.
- He will work closely with the bank's global FIG head, Mark Benevento.
Bank of America declined to comment. Morgan Stanley did not immediately respond to a request for comment.
