Bank of America Corp. hired Olivier Thiriet from Credit Suisse Group AG to head Asia-Pacific equities in Hong Kong, replacing Peter MacDonald, according to a memo obtained by Bloomberg News.
MacDonald, who was named to the newly created post of vice chairman of international equities, will move to London in April, according to the document. Thiriet, who headed Asia-Pacific cash equities at the Zurich-based bank, will join later in the year. Mark Tsang, a Bank of America spokesman in Hong Kong, confirmed the memo’s contents.
Bank of America is expanding banking, fixed-income and equities in Asia and hired investment bankers Margaret Ren from BNP Paribas SA and Stephen Gore from UBS AG last year to help build and integrate the businesses. Thiriet will report to Loh Boon Chye, who was lured by the Charlotte, North Carolina-based bank from Deutsche Bank AG in October to head Asia global markets.
MacDonald will report to Fabrizio Gallo, global head of equities, the memo said. Thiriet, who was also president of Credit Suisse Japan, will become a member of Bank of America’s Asia-Pacific executive committee, it said.