Bank of America has appointed Mayank Saxena as head of its Southeast Asia financial institutions group (FIG), the latest in a spurt of investment bank hires in the financials sector amid a surge of dealmaking in Asia by banks and insurers.
Reuters reports that Saxena will report to Patrick Porritt, Bank of America Merrill Lynch's new Asia Pacific FIG head, and to Southeast Asia investment banking head Chris Gammons, the bank said in an internal memo seen by Reuters on Friday.
Porritt was himself last month hired from UBS. Fierce demand for investment bankers expert in advising financial clients has triggered a string of such hires in Asia this year.
In the meantime, Reuters reports that Deutsche Bank said on Thursday that Luc Frieden, 50, would join the lender to advise management on strategic aspects related to international and European affairs.
The news agency reports that in his new role of Vice President, Frieden will also work with the bank's Government & Regulatory Affairs department and other infrastructure functions and business units, Deutsche Bank said.