March 14 (Reuters) - Bank of America ( BAC ) has made

several leadership changes in its capital markets business,

setting up a new advisory group called capital markets advisory

in a bid to better align its offering amid a volatile

macroeconomic and geopolitical environment, according to a memo

seen by Reuters on Thursday.

The firm has named Gregg Nabhan, chair of equity capital

markets, and Mike Browne, head of North America leveraged

finance, to lead its capital markets advisory unit, the memo

said.

"Our clients continue to face challenging cross-capital

structure decisions in a volatile macroeconomic and geopolitical

environment," Faiz Ahmad and Sarang Gadkari, co-heads of Global

Capital Markets said in the memo.

Bloomberg News first reported the development.

The macroeconomic environment has been tough for nearly two

years due to the U.S. Federal Reserve's record interest rate

hike cycle and ongoing geopolitical tensions in several regions

that have kept markets under pressure.

However, there have been some signs such as the recent

inflation print that have fueled some confidence in investors.