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Montag Vows ‘New Game’ for BofA Investment Bank as Risk Cut

Bank of America Corp.’s global banking and markets division is recovering after credit-rating downgrades ignited concern among clients and trading partners, said co-Chief Operating Officer Thomas K. Montag.

Executives from the firm traveled around the world to reassure corporate clients that the Charlotte, North Carolina-based company was a steady partner after Moody’s Investors Service cut the bank’s credit grades in September, Montag said in a Jan. 19 staff meeting.