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BofA hires ex-Deutsche executive as head of Asia-Pacific global markets

Bank of America (BofA) has appointed Loh Boon Chye, a former Deutsche Bank executive, as head of Asia Pacific global markets, in a bid to boost its presence in the emerging markets.

Chye will serve as deputy president for the region and country executive for Singapore and Southeast Asia and manage equities, fixed-income, currencies and commodities segment.

With 20 years of experience in investment banking and capital markets, Chye will accept the newly created role in December this year, according to an internal memo obtained by Reuters.

He joined Deutsche Bank in 1995 and was selected as the head of the global markets Asia unit in 2002, while later moved on to become Asia Pacific head of corporate and investment banking at the bank in 2010.

Having started his career as an investment officer at the Monetary Authority of Singapore in 1989, Chye served as a non-independent director of the Singapore Exchange during the period 2004 to 2012.

Bank of America serves nearly 56 million consumer and small business relationships through almost 5,600 retail banking offices, and about 16,200 ATMs and online banking.