By Christina Rexrode And Jenny Strasburg
Bank of America Corp. on Tuesday tapped Bernard Mensah and James
DeMare to be the co-heads of global fixed-income, currencies and
commodities trading, according to people familiar with the
situation.
Mr. Mensah and Mr. DeMare will take over Jan. 1, according to a
memo sent by Chief Operating Officer Thomas Montag. He also runs
investment banking and other units that deal with business clients
and institutional investors.
Mr. Mensah and Mr. DeMare will replace David Sobotka. The Wall
Street Journal reported in November that he would retire by the end
of the year. Mr. Sobotka felt ready to leave because the bank had
made progress faster in FICC trading faster than had been
anticipated, the Journal reported.
Mr. Mensah currently runs FICC trading for Europe, the Middle
East and Africa. Mr. DeMare is global head of securitized
products.
Write to Christina Rexrode at christina.rexrode@wsj.com and
Jenny Strasburg at jenny.strasburg@wsj.com
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