Bank of America to appoint head of Global Treasury Solutions
Paul Simpson is reportedly leaving Citi to take up the new position at Bank of America Merrill Lynch as it emphasizes the importance of GTS to its corporate and commercial banking customers.
Paul Simpson, global head of Treasury & Trade Solutions at Citi GTS, is reportedly leaving to take up a newly-created position at Bank of America Merrill Lynch (BoAML).
According to an industry source, Simpson will be appointed head of Global Treasury Solutions (GTS) at BoAML, a new position created as part of the bank's efforts to underline the importance of GTS. Simpson will report to Paul Donofrio head of Global Corporate Banking at BoAML, with accountability to David Darnell, president of Global Commercial Banking.
Simpson is expected to take up the new position, which is US-based, some time in the Spring. Simpson has been with Citi since 2007. He previously worked at J.P. Morgan Chase where he had global responsibility for treasury services products including trade and logistics. He has also worked at Deutsche Bank, Bankers Trust and ANZ Bank.
Since its acquisition of Merrill Lynch, BoAML has stepped up its efforts to cross-sell a wide range of corporate, commercial and investment banking services to its enlarged customer base, particularly in emerging markets.
Date Posted:2nd March 2011