MOVES-BAML names Cannon and King as co-heads of UK CIB

LONDON, Feb 9 (IFR) - Bank of America Merrill Lynch has hired Matt Cannon from Morgan Stanley to co-head its corporate and investment banking in the UK and Ireland, alongside Richard King.

BAML is merging the roles of running investment banking and corporate banking for the UK and Ireland.

King was head of corporate banking for region, and will now co-head the enlarged business.

Ian Ferguson, head of investment banking for the region, will become a chairman of the combined CIB business for UK and Ireland in May.

Cannon will join BAML in May. He and King will be based in London and report to Bob Elfring and Jim O’Neil, co-heads of CIB for EMEA, according to a memo sent to staff on Friday and seen by IFR.

Cannon will join from Morgan Stanley, where he spent eight years, most recently as co-head of financial institutions for EMEA. He has also previously worked at Lehman Brothers and subsequently Nomura.

King joined BAML in 2010 as head of UK corporate banking, where he has helped build out the corporate banking business in Britain, Benelux and Scandinavia. (Reporting by Steve Slater)