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Foreign Exchange

FX people moves: Bank of America makes sales changes

Bank of America (BofA) has appointed Tarek Mahmoud as head of global markets institutional sales for Europe, the Middle East and Africa. Mahmoud, who joins the bank on October 8, will be based in London and report jointly to Jonathan Moulds, president, EMEA and Asia, and to Mike Meyer, head of global markets institutional sales.

Mahmoud joins BofA from Richmond Park Capital, a private investment venture that he co-founded. Previously, Mahmoud was co-head of capital markets and global head of sales and marketing at Dresdner Kleinwort in London. He has also held senior roles at General Re Financial Securities, ING Barings and Bankers Trust. 

Meanwhile, the bank has also confirmed that Jeff Pagano, previously head of global liquid products will soon leave the bank for personal reasons and return to the US. His role will be taken by Mahmoud and Mike Thorson, with Thorson assuming the title of head of global rates, currencies and commodities EMEA. He will report to Jonathan Moulds and Richie Prager, global head of GRCC. Thorson will also continue as head of EMEA rates trading, reporting to Gerhard Seebacher, global head of trading for GRCC.

Another change concerns Ferruccio Ferrara, who was promoted over the summer from head of rates sales EMEA to head of GRCC sales for EMEA.

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