(Amends spelling of name in second paragraph; also sends to
additional Reuters services)
LONDON, July 28Bank of America Merrill Lynch
has made two new internal hires as co-heads of global
equity capital markets (ECM), as activity in the sector surges
amid strong market conditions and low volatility.
Craig Coben, head of ECM for the Europe, Middle East and
Africa region, and Mary Ann Deignan, head of ECM in the Americas
for BoA Merrill Lynch, have been appointed with immediate
effect, the bank said on Monday.
"Craig and Mary Ann will partner closely to drive the global
strategy of our equity capital markets business," said Jim
Probert, head of Global Capital Markets, in a statement.
JD Moriarty, head of technology ECM, will also take over as
head of ECM for the Americas.
Activity in equity capital markets has surged in 2014, up 16
percent in the first half against the same period last year as
cash-starved companies rush to sell shares and to list on stock
exchanges via initial public offerings (IPOs).
Fees are also at a three-year high, according to Thomson
(Reporting by Freya Berry; Editing by David Evans)