(Amends spelling of name in second paragraph; also sends to additional Reuters services)
LONDON, July 28(Reuters) - Bank 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 Reuters data. (Reporting by Freya Berry; Editing by David Evans)