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Bank of America names COO for investment bank

Bank of America Corp. <BAC.N>, the No. 2 U.S. bank, on Thursday named Tom Berkery chief operating officer of its global corporate and investment bank.
/ Source: Reuters

Bank of America Corp. , the No. 2 U.S. bank, on Thursday named Tom Berkery chief operating officer of its global corporate and investment bank.

Berkery, who will be based in New York, will oversee equity research, debt research and supervision and control issues and also be accountable for strategic investments, public finance and investment banking strategy, Bank of America said.

He will join the company in mid-June and report to Alvaro de Molina, who in April became the corporate and investment bank's president.

The unit last year increased profit 29 percent to $2.01 billion, equal to 19 percent of Charlotte, North Carolina-based Bank of America's $10.8 billion profit. It perennially ranks in the top 10 among global debt and equity underwriters.

Berkery has 25 years of business advisory experience with PricewaterhouseCoopers, the accounting firm, specializing in multinational financial institutions. He was also managing partner for PwC's New York Metro Region Assurance and Business advisory practice.