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Bank of America shuffles equity fundraising team
April 18, 2013 / 2:46 PM / 5 years ago

Bank of America shuffles equity fundraising team

LONDON (Reuters) - Bank of America’s Merrill Lynch has appointed Yacine Amor head of equity capital markets (ECM) for Central and Eastern Europe, Middle East and Africa, a spokeswoman for the bank said.

Customers use ATMs at a Bank of America banking center in New York's financial district January 17, 2013. REUTERS/Brendan McDermid

Amor’s new position, which he will do alongside his current role as head of Equity Linked for Europe, Middle East and Africa (EMEA), is one of three changes in the bank’s ECM team, which runs deals such as initial public offerings and rights issues.

European ECM volumes in 2013 are up 17 percent compared to the same period last year, according to Thomson Reuters data, as a pick up in stock markets boosts appetite for share sales.

The bank is currently third in the EMEA ECM league tables, behind Goldman Sachs and Deutsche Bank.

Daniel Burton-Morgan has been appointed head of EMEA ECM Syndicate, while Pauk Frankfurt has taken up a newly created role in charge of EMEA blocks, the spokeswoman said on Thursday.

Block sales, where a large shareholder reduces their stake in one go via a sale to institutional investors, has also been a busy area. Bank of America Merrill Lynch ran Lloyds Banking Group’s sale of a 20 percent stake in wealth manager St James’s Place last month.

Both Burton-Morgan and Frankfurt previously worked in corporate broking at the bank. Burton-Morgan replaces Akram Zaman, who is relocating to the United States.

All three will report to Craig Coben, head of EMEA ECM.

Reporting by Kylie MacLellan; Editing by Elaine Hardcastle

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