Bank of America Merrill Lynch has bolstered its Global Equity Capital Markets (ECM) unit by appointing Craig Coben and Mary Ann Deignan as its newest Co-Heads of Europe, Middle East and Africa (EMEA) and the Americas respectively.
ECMs have suffered the same fate as Forex lately, riddled by seemingly low volatilities, which is traditionally emblematic of the summer months. However, this has not stopped Bank of America from fortifying its ECM outfit with two new internal hires that are effective immediately. Furthermore, earlier this month the group made two other hires, naming Paul Simpson as Chief of Global Prime Brokerage and Robert Labriola in its Wealth Management Group.
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Low Market Volatility, High Equity Activity
According to Jim Probert, Head of Global Capital Markets for Bank of America Merrill Lynch, in a recent statement on the appointments, “Craig and Mary Ann will partner closely to drive the global strategy of our equity capital markets business.” Indeed, this move comes on the heels of an upbeat 2014-year, which has seen Bank of America Equity activity swell 16% in H1.
Mr. Coben has been a part of the Merrill Lynch since 2005 when he joined as the Managing Director of EMEA Equity Capital Markets. Prior to this, he also worked in such roles as Managing Director at Deutsche Bank AG. Alternatively, Mrs. Deignan will be taking up employment with Bank of America Merrill Lynch following a tenure at UBS as Managing Director.