BofA’s Krishnan Named Global Markets Electronic Trading Headby
New role expands Krishnan’s reach into fixed-income securities
Executive will work with Duncan McInnes, internal memo says
Bank of America Corp., the second-largest U.S. lender by assets, promoted Ashok Krishnan to lead electronic trading worldwide.
Krishnan, 45, had previously overseen equities electronic trading, the Charlotte, North Carolina-based bank said Wednesday in an internal memo from global equities chief Fabrizio Gallo, fixed-income sales head Sanaz Zaimi and fixed-income trading co-heads James DeMare and Bernard Mensah. Krishnan, based in London, has been at the bank’s Merrill Lynch unit since 2005, according to Financial Conduct Authority records.
Krishnan’s new role expands his reach from equities to fixed-income securities as Bank of America moves to broaden its electronic-trading operations. The firm began taking customer orders on its first electronic trading platform for corporate loans this month, and on Tuesday reached $1 billion in client bids and offers under Brian Callahan, the head of U.S. loans trading. It also hired former Credit Suisse Group AG executive Pankil Patel, who will start in July as leader of electronic equities trading in the Americas, a person with knowledge of the matter said earlier this month.
Krishnan will work closely with Duncan McInnes, according to the memo. McInnes ran fixed-income electronic trading and was recently named head of technology for that asset class.