Bank of America Corp. (BAC:US), the second- biggest U.S. lender, hired Richard Yacenda from Deutsche Bank AG as chief operating officer for Asia-Pacific, according to a memo obtained by Bloomberg News.
Yacenda will join at the end of May and be based in Hong Kong, according to the document. Paul Scanlon, a Hong Kong-based spokesman for Bank of America, confirmed the contents of the memo. Yacenda had been Deutsche Bank’s deputy COO for Asia- Pacific since 2006.
He will replace Jennifer Taylor, who was named COO of Europe and emerging markets excluding Asia and will relocate to London in the second quarter, the memo showed. Yacenda is the second senior hire from Deutsche Bank in Asia after the U.S. bank lured Loh Boon Chye as deputy president and head of global markets for the region in October.
The bank has been stepping up hiring of senior bankers and executives in Asia from rivals since last year, after it promoted Matthew Koder to president of its Asian operation.
Bank of America, based in Charlotte, North Carolina, said this month it hired Credit Suisse Group AG’s Olivier Thiriet to run Asia cash equities. George Lin, also from the Zurich-based bank, will join the U.S. bank and head its consumer, retail and health-care investment banking business in Asia, people with knowledge of the matter said this week.
Yacenda had worked for Goldman Sachs Group Inc. for 21 years, according to the memo. He joined JPMorgan Chase & Co. as North Asia COO in October 2004.
Trisha Lawson, interim COO of Europe and emerging markets excluding Asia, will return to New York to resume her role as head of global business controls, the memo said.
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