Bank of America Corp. (BAC), the second- largest U.S. bank by assets, named Christian Meissner interim president of Europe and emerging markets excluding Asia, as Jonathan Moulds leaves amid a management shakeup.
Meissner, 42, will continue to lead global corporate and investment banking and be based in London during the interim period, co-Chief Operating Officer Thomas K. Montag said in a memo to the staff today. The memo also confirmed the departure of Andrea Orcel, the firm’s chairman of global banking and markets.
UBS AG (UBSN) hired Orcel, 48, as co-head of its investment bank to help run a division rocked by key departures and last year’s $2.3 billion loss from unauthorized trading. He will co-lead the Zurich-based company’s investment bank alongside Carsten Kengeter, UBS said today in a statement.
“This is an opportunity for Andrea to have broader management responsibilities, and we wish him well in his new role,” said Jessica Oppenheim, a spokeswoman for Charlotte, North Carolina-based Bank of America.
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