BofA names Sandelman head of global equities

Banc of America Securities has named Jon Sandelman its head of global equities, a newly created position. He also becomes a member of the bank’s operating committee.

Officials at the firm say the appointment highlights Banc of America Securities’ focus on derivatives products. Sandelman has run the bank’s Equity Financial Products (EFP) group, responsible for the origination and distribution of convertible debt and equity derivatives, since 1998. He remains in charge of that business. Prior to that, he was global head of equity derivatives at Salomon Brothers.

Sandelman’s task now is to expand and improve the bank’s equities origination, trading and research businesses.

Sandelman is based in New York and will report to Ed Brown, head of global corporate and investment banking. “As head of our EFP group for the past four years, Jon has been exceptionally successful in building this business, taking us from a relatively minor player to a recognized leader in equity-linked products,” Brown said.