Bank of America Corp. (BAC:US) named Patrick Steinemann and Richard Zhang as co-heads of Asia industrials investment banking, according to an internal memo obtained by Bloomberg News.
Zhang was hired from Citigroup Inc. (C:US), where he was head of Greater China metals and mining investment banking, according to the document. He began his career at Merrill Lynch & Co. as an associate, it said. Mark Tsang, a Hong Kong-based spokesman for Charlotte, North Carolina-based Bank of America, confirmed the contents of the memo.
Steinemann has been with Merrill Lynch, which was acquired by Bank of America in 2009, since 1998 and was most recently covering the capital goods and automotive sectors in the Asia- Pacific region, according to the memo.
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