Bank of America BAC.N has appointed Thorsten Pauli as head of Asia Pacific Global Capital Markets, according to an internal memo reviewed by Reuters on Tuesday, completing a leadership transition following the retirement of Matthew Basler.
Here are some details:
- Pauli, currently the bank's Switzerland country executive, will relocate to Hong Kong in the coming months and join the leadership teams of Global Capital Markets and Asia Pacific Global Corporate and Investment Banking (GCIB), the memo said.
- A Bank of America spokesperson declined to comment.
- Pauli brings more than two decades of capital markets experience across Europe and Asia, according to the memo.
- In the new role, Pauli will report to Lisa Clyde and Sarang Gadkari, co-heads of Global Capital Markets.
- The memo said Olof Engelbrekts, Bank of America's head of Investment Banking for Switzerland, will succeed Pauli as country executive for Switzerland and remain based in Zurich.
- Basler's retirement had previously prompted the bank to begin planning a succession process for the Asia Pacific capital markets leadership role.
