Bank of America Merrill Lynch (BAML) has appointed Yang Xia as its newest Head of Greater China, in its Equities division, according to a recent Reuters report.
Yang joins BAML after a lengthy stint spanning over a decade at UBS China, having worked previously as its Head of Equities. The new role at BAML as the Head of Greater China – Equities will only begin in October, with Yang reporting to Olivier Thiriet, Head of Asia-Pacific (APAC) Equities at the US lender.
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Unlike many other global banking institutions, BAML has been relatively devoid of broad-based personnel moves in Q3 2015. The last notable move by the BAML took place in July after the group reinforced its foreign exchange (FX) technology team with the addition of Neil Boston.
Mr. Boston came over to BAML from Citi, having worked in a number of senior level roles over the past seven years. This included positions as its Head of FX Technology, Director and Chief Technical Architect of its Options Technology team, as well as its Managing Director, among other roles dating back to 2008.
Bank of America’s share prices (NYSE:BAC) have been in a gradual retreat since scoring a 52-week high of $18.48 this past July. Since then, lingering concerns over China’s economy and the indecision of US monetary policy changes have managed to sink the stock to $15.70 at the time of writing during premarket trading.