Ashish Malhotra has left Bank of America Corp. (BAC:US) less than a month after the lender named him as head of its debt capital markets unit in Asia.
Malhotra was responsible for investment-grade and high- yield debt origination in the region and had formerly led Bank of America’s debt syndicate, according to a March 18 memo from the bank announcing his new role. He no longer works for the lender, Paul Scanlon, a Hong Kong-based spokesman, said today, declining to comment further.
The Charlotte, North Carolina-based bank reorganized its Asia bond and loan unit last month after hiring Devesh Ashra and Hital Desai from Credit Suisse Group AG. Bank of America has also appointed Vikram Lamba as a director in its leveraged finance business, starting in July, and Yuda Zhou for its loan syndication team, beginning next month, a person familiar with the matter said today asking not to be named because the details are private.
Mark Tsang, a Hong Kong-based company spokesman, declined to comment on Lamba and Zhou’s appointments today.
Bank of America holds a 6.6 percent market share among arrangers of dollar-, euro- and yen-denominated bonds sold by companies from Asia outside Japan this year, ranking seventh, data compiled by Bloomberg show.
Noble Group Ltd., Asia’s biggest listed commodity supplier, Swire Properties Ltd. and Korea Exchange Bank are among companies that hired the bank to manage offerings, according to the data.
In other changes announced by Bank of America last month, Ranobir Mukherji was appointed vice chairman of Asia DCM and Siong Ooi was named head of Asia-Pacific leveraged finance and loans.
Ashish Sharma, who used to be a director in Bank of America’s loan syndication team, also recently left and was hired by Credit Suisse as a director and head of loan syndications APAC for its emerging markets financing group.
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