Financial institutions

BofA Appoints Managing Director in Financial Institutions of the Americas Investment Banking Unit | Investment News

(Reuters) – Bank of America Corp on Wednesday named Alice Wong as managing director of its Americas Financial Institutions Investment Banking unit, according to an internal memo seen by Reuters.

Wong’s appointment is the newest addition in recent months to women in key leadership roles at major Wall Street banks.

Bank of America promoted three women to senior management positions in September, while JPMorgan Chase & Co named Marianne Lake and Jennifer Piepszak, widely seen as the top two contenders for the post of chief executive officer (CEO), as as co-directors of its consumer and community banking department at the start of last year.

Jane Fraser also made headlines last year after being named CEO of Citibank, making her the first woman to lead a major Wall Street bank.

Prior to joining Bank of America, Wong spent six years at alternative asset manager Varagon Capital Partners, where she led the sale of a stake in Aflac Global Investments and also helped structure a lending joint venture with Ares. Capital. She has also worked with UBS Investment Bank and Credit Suisse.

The Wharton graduate takes on the role after a record global deal in 2021, with volumes peaking at $5 trillion, comfortably eclipsing the previous record high of $4.55 trillion in 2007, according to Dealogic data.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Vinay Dwivedi)

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