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(Bloomberg) — Bank of America Corp. named Jeff Tannenbaum the new head of corporate and investment banking across Europe, the Middle East and Africa as part of a slew of changes in the Wall Street bank’s international division.
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Tannenbaum is replacing Jim O’Neil, who is taking a role in the UK government, according to a memo to staff seen by Bloomberg. He will join the global corporate and investment banking and EMEA executive committees at the firm, the memo said.
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Bank of America will shift all of its country executives in both the EMEA region and Canada under Bernie Mensah, head of the firm’s international division.
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The bank will be making other organizational changes “in due course,” Matthew Koder, president of global corporate and investment banking, and Mensah said in the memo, the contents of which were confirmed by a Bank of America spokesperson.
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Tannenbaum joined Bank of America as an intern in 1998, taking on various trading and capital markets roles before leading the firm’s fixed income syndicate desk in New York from 2006, according to the memo. He returned to London in 2009 and eventually was named head of EMEA capital markets in 2020.
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O’Neil’s move marks a return to government life for the executive, who previously spent three years helping lead UK Financial Investments, which managed the government’s investments in certain banks in the aftermath of the global financial crisis. In his new stint, O’Neil will be second permanent secretary of HM Treasury and will be tasked with overseeing the government’s growth, financial services and infrastructure agendas.
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