September 29, 2017 / 9:25 AM / a year ago

Thompson to head BAML's EU hub in Dublin

LONDON, Sept 29 (IFR) - Bank of America Merrill Lynch has picked former finance chief Bruce Thompson to head its banking operations in Dublin, which it has chosen as its European Union base once Britain leaves the EU.

Thompson will move to Dublin in the coming months, according to a memo to staff from chief operating officer Tom Montag, seen by IFR. Thompson will continue to report to Montag.

Thompson is chairman of BAML’s global acquisition finance and capital commitments. He sits on the executive management team and the global banking and markets leadership team.

He joined Bank of America in 1996 and was named head of global capital markets in 2008 and then chief risk officer and chief finance officer.

BAML said in July it had selected Dublin as the base for its banking and markets operations in the EU after Brexit.

It has not said how many roles will move to the Irish capital, where it has over 700 staff and a fully licensed entity.

Montag’s memo said Anne Finucane, who leads BAML’s environmental, social and governance efforts, will in addition chair the new European (non-UK) board once it is established, pending regulatory approval. She is a member of the executive management team. Finucane will keep her current role and remain based in the US.

Alex Wilmot-Sitwell will continue as Europe, Middle East and Africa president and chair the board of the new Dublin-based European (non-UK) broker-dealer operations. He will stay based in London. (This story will appear in the September 30 issue of IFR Magazine; Reporting by Steve Slater)

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