Bank of America names rates and currencies head

Mon Jan 14, 2013 5:44pm EST

Jan 14 (Reuters) - Bank of America Corp has named Mike Joo head of global rates and currencies origination, the business that issues interest rate and currency products for corporate and commercial clients, according to a memo sent to employees.

Joo, who joined the firm in 2006, had been chief operating officer for the bank's global markets division since 2009. He will report to Lisa Carnoy, head of global capital markets, and Bryan Weadock and Sanaz Zaimi, co-heads of global fixed income, currency and commodities sales.

Joo will have a broader role than Jonathan Shiff, who had been head of corporate and commercial rates and currencies origination for North America. Shiff will take on a new role, which will be announced in coming weeks, according to the memo.

A Bank of America spokeswoman on Monday confirmed the contents of the memo, which was sent to employees last week. Dow Jones reported the appointment earlier on Monday.