BAML appoints ex-Morgan Stanley executive to lead UK corporate and investment bank
(13 February 2018 – United Kingdom) Bank of America Merrill Lynch (BAML) has poached a Morgan Stanley executive to co-head its newly-merged corporate and investment bank for the United Kingdom (UK) and Ireland.
BAML announced the hire of Morgan Stanley’s co-head of Emea financial institutions Matt Cannon in an email to staff.
As well as working on financial clients, Cannon will co-head the bank’s corporate and investment bank for the UK and Ireland, alongside Richard King.
Jim O’Neil, the bank’s co-head of EMEA corporate and investment banking, said the UK and Ireland region was one of the only areas where BAML did not have an integrated corporate and investment bank.
“The real benefit (of the new structure) is that, by closer communication and management, the incremental opportunities for the bank might be able to develop sooner in a more integrated way,” O’Neil said.
“The structure also brings us the opportunity to bring in outside talent such as Matt,” O’Neil added. “His primary focus will be UK and Irish clients. We do have people in different roles taking on clients outside those jurisdictions, it may make sense for him to have a client or two outside of UK and Ireland.”
“We continue to see a robust deal environment,” he added.
“Obviously we’re going through a period of equity market volatility but from our conversations with clients they’re still seeking to do things both in terms of M&A and capital raises.”
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