According to an internal memo confirmed to Forex Magnates by Bank of America’s John Yiannacopoulos, the group has appointed Paul Simpson as Chief of its Global Prime Brokerage after the departure of Stuart Hendel who announced his intention to leave the post in March 2014.
Mr. Simpson was formerly Head of BoA’s Global Transaction Services.
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Bank of America Merrill Lynch’s Global Prime Brokerage and clearing services have been delivering access to more than 70 exchanges all over the globe, offering its clients a multitude of assets including equities, fixed income and derivatives.
According to the memo, Simpson will be reporting to the Head of Global Equities, Fabrizio Gallo and David Sobotka for futures and options products, over-the-counter (OTC) clearing and the FX prime brokerage. John Simpson was previously employed by other major banks – Citigroup Inc, and JPMorgan Chase & Co.