BofA names senior executives to drive AI adoption in global markets-memo

NEW YORK, July 17 (Reuters) - Bank of America BAC.N has announced senior appointments to drive AI adoption and implementation across its global markets group, according to an internal memo seen by Reuters on Friday.

The bank named Kevin Milsom as head of platforms AI transformation, according to the memo by Ashok Krishnan, head of platforms within the global markets group.

Krishnan leads efforts to modernize technology and increase automation, including the rollout of generative AI tools and other new technologies.

Bank of America's chief technology officer told Reuters late last year the bank plans to spend billions of dollars on technologies such as artificial intelligence to boost bankers' productivity and bring in more revenue.

Amy Avery and her Analytics, Modelling & Insights (AMI) team will join the global platforms group, where they will oversee data-driven insights across the company, the memo said.

BofA also named Sonali Theisen as head of global digital assets platform, in addition to her current role as head of Global FICC E-trading and markets strategic investments.

FICC stands for Fixed Income, Currencies, and Commodities.