Moulds promoted in BoA debt reshuffle

Jonathan Moulds, global head of interest rates, treasuries and agencies business at Bank of America, will now assume responsibility for the US bank’s foreign exchange business and local debt operations in Asia and Mexico, according to an internal memo from Ed Brown, head of global corporate and investment banking at the bank.

Moulds, whose title is head of liquid products, will join a new debt operating committee set up to push through an integrated debt platform that aims to offer a closer integration of origination and banking businesses, plus easier client access to multi-asset classes.

Mould’s promotion will mean bankers with a strong derivatives background continue to maintain a prominent position at the bank following the departure of Duncan Goldie-Morrison, head of the global markets group in New York, earlier this year.

Beau Cummins will continue to manage the foreign exchange business for an undisclosed transition period. But he will now focus on the origination of all high-grade debt products and co-ordinate the marketing of interest rate derivatives, foreign exchange and commodities to issue clients. He will report to Moulds, Pat Augustine, head of investment-grade asset securitisation, and Bill Hodges, head of debt capital markets and leasing. Augustine and Hodges will both sit on the debt operating committee.

Other members of the committee chaired by Brown include: Tom White, head of leveraged finance; Chris Mandell, head of investor client management for equities and debt, and institutional sales for debt; Joe Price, head of portfolio management; and Richie Prager, debt chief operating officer. Prager, who reports to Brown and Charlie Williams, the bank’s chief operating officer, will act as co-chair of the debt operating committee.