Bank of America reoganises credit research

Bank of America is reorganising its credit research team and will now cover European and global credits from the US.

David Goldman, global head of fixed-income research at Bank of America in New York, conceded the bank does not have the means to run traditional fundamental analysis on European credits. Accordingly, it will maintain its quantitative research team in London, headed by Raja Visweswaran, head of international credit strategy.

Goldman says the rejig was motivated by the bank’s new approach to fixed-income research, which will now cover sectors on a global basis. Two credit analysts presently based in London will join the trading team as desk analysts. Peter Plaut, formerly head of European fixed-income research, is relocating to the US to head global financial institution research.

Jeff Burch and Minhea Vasilache are the two analysts shifting to the trading desk. Burch, a utilities analyst, joined Bank of America last year from Morgan Stanley. Vasilache, who covers chemical companies and high-yield names also joined in 2003, but from JP Morgan.