07:04 AM EDT, 08/21/2025 (MT Newswires) -- Bank of America ( BAC ) has appointed Faiz Ahmad and Mike Joo as co-heads of global investment banking, Reuters reported Thursday, citing an internal memo.

All group heads in the division will report to Ahmad, previously co-head of global capital markets, and Joo, who led North America global corporate and investment banking, the news outlet reported.

Departing leaders Alex Bettamio and Thomas Sheehan will reportedly serve as chairs of the business, focusing on client relationships.

Other appointments reportedly include Karim Assef, who will take a more active role in global investment banking. Lisa Clyde will become co-head of global capital markets with Sarang Gadkari, and Brendan Hanley will be head of global corporate banking and leasing.

Bank of America ( BAC ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)