Bank of America Corp., the largest U.S. bank, will divide its corporate and investment bank into Americas and international units, according to a person familiar with the matter, Bloomberg reported.
Former Merrill Lynch & Co. executive Andrea Orcel is leading international corporate and investment banking, said the person, who declined to be identified because the split hasn't been publicly announced. Jonathan Moulds, the head of Europe, Middle East, Africa and Latin America, will retain broad market leadership responsibilities, the person said. He'll report to Brian Moynihan, who leads investment banking and wealth management units at the Charlotte, North Carolina-based company.