Bank of America Names Seguchi, Su as Co-Presidents for Asia
(Bloomberg) -- Bank of America Corp. appointed Jiro Seguchi and Jin Su as co-presidents for the Asia-Pacific region, replacing Matthew Koder, who recently became global head of corporate and investment banking.
Seguchi, country head of Japan and head of corporate and investment banking for the region, and Su, co-head of fixed income, currencies and commodities for the region, will retain their current roles, according to an internal memo on Friday.
Su’s promotion marks the first time that Bank of America has put a senior market executive into an Asian president role, as the firm expands its trading operations. The move is similar to Goldman Sachs Group Inc. last year installing James Paradise, Asia-Pacific co-head of the securities division, as a co-president for the region.
The memo to staff was from Chief Operating Officer Tom Montag. Paul Scanlon, a Hong Kong-based spokesman, confirmed the appointments.
Seguchi, based in Tokyo, has been with the firm for 19 years. Su has had various roles in the trading division in London and Hong Kong during his 25-year stint with the bank.
Koder joined Bank of America to head Asia-Pacific corporate and investment banking in 2011 and became the bank’s president for the region the following year. He replaced Christian Meissner, who had been running the corporate and investment banking division for most of a decade.
The bank’s balance sheet for the Asia-Pacific region grew about 20 percent to $103 billion at the end of 2017 from a year earlier, according to its annual report.
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