Bank of America has named new leadership for its investment banking operations covering Africa and the Benelux region, part of a broader push by the firm to deepen local client relationships and strengthen its coverage across key international markets.
Part of a Wider Global Leadership Push
The appointments extend a pattern of regional leadership changes Bank of America has pursued throughout 2026 as it works to reinforce its investment banking franchise across multiple geographies. The bank has recently reshuffled leadership in Southeast Asia, appointing Dominic Tan as head of Southeast Asia investment banking while relocating his predecessor, Antonio Puno, to London to join the firm’s financial sponsors investment banking team covering Europe, the Middle East, and Africa. That kind of cross-regional shuffling reflects how Bank of America has been redeploying senior talent across its global investment banking network rather than relying solely on new external hires.
Africa: Building on an Established Franchise
Bank of America’s push in Africa builds on a franchise the bank has spent years developing under Yvonne Ike, head of Sub-Saharan Africa, who has overseen a strategy centered on landmark transactions and long-term client partnerships across the continent. The bank has positioned itself as a significant player in African capital markets, and its research and advisory operations on the continent have been recognized industry-wide, including being named World’s Best Bank for Markets by Euromoney in both 2023 and 2024. Strengthening leadership specifically within investment banking coverage for the region signals continued commitment to a market that has drawn growing interest from global banks despite periodic volatility tied to sovereign debt dynamics and broader emerging-market sentiment.
Benelux: A Region With Established Momentum
The bank’s Benelux operations, covering Belgium, the Netherlands, and Luxembourg, have similarly been a focus of recent leadership investment. Bank of America previously restructured its regional leadership there when it elevated Frank Haffmans, then head of corporate banking for the region, to co-lead the broader Benelux business alongside a banker brought in from a rival firm. The bank has described the Benelux region as a strategically connected cluster sitting at the center of European innovation and cross-border commerce, an area it has continued deepening its presence in to support both local and global clients pursuing growth ambitions in the region.
A Broader Pattern of Investment Banking Investment
These regional moves come as Bank of America’s global investment banking division has undergone significant leadership changes more broadly, following the promotion of Faiz Ahmad and Mike Joo to co-heads of global investment banking as part of a wider reshuffle that also saw Karim Assef take a more active role as chair of the division. That global restructuring has coincided with a period of mixed performance for the bank’s investment banking business, which ranked third-highest by revenue in 2025 with roughly 6% market share, even as its position in merger and acquisition league tables slipped from fourth to fifth place amid intensifying competition from rivals.
Why Regional Leadership Matters
For global banks like Bank of America, having dedicated, locally connected leadership in specific regions like Africa and Benelux plays an outsized role in winning mandates, given how relationship-driven investment banking remains in markets outside the largest global financial centers. Strong regional leadership can help a bank build the kind of client trust and market knowledge needed to compete for advisory work, debt issuance, and capital markets transactions against both global rivals and well-established local players who often have deeper historical roots in these markets.
What Comes Next
With new leadership now in place across both regions, Bank of America’s ability to translate these appointments into an expanded local client network and stronger deal flow will likely become clearer as the bank reports future investment banking results. The moves reflect a broader strategy of continuous leadership refresh across the bank’s global footprint, one that has touched multiple regions throughout 2026 as Bank of America works to reinforce its position against competitors in an increasingly competitive global investment banking landscape.
