Bank of America appoints new chairman for global mergers and acquisitions

Bank of America has appointed Steven Baronoff, a former Merrill Lynch executive, as chairman of global mergers and acquisitions, according to reports.

Mr Baronoff, who is currently advising PepsiCo on its offer for its bottlers Pepsi Bottling Group and PepsiAmericas, has joined the bank when it acquired Merrill Lynch in January 2009. Previously, he served as head of mergers and acquisitions for Merrill Lynch.

Bank of America has also appointed Stefan Selig, former vice chairman of global mergers and acquisitions of the bank, as executive vice chairman of global corporate and investment banking.

Mr Selig has advised Watson Wyatt Worldwide on its merger with Towers Perrin Forster & Crosby and Broadcom on its bid for Emulex.

Both Mr Baronoff and Mr Selig will report to Brian Moynihan, president of global banking and wealth management at Bank of America Merrill Lynch.

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