Marbled fudge

11 September 2009 By Jeffrey Goldfarb Follow @jgfarb

The investment bank has been rejigged under exGoldman star Tom Montag. Rainmaker Andrea Orcel will be Montag s wingman alongside three coheads running the unit. This looks like a way to assuage egos and fudge three banks management styles. It s unlikely to last.

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Bank of America/Merrill Lynch appointed Merrill veteran Andrea Orcel to be executive chairman of global banking and markets, reporting to Tom Montag, president of the division. Paul Donofrio, Michael Rubinoff and Purna Saggurti have been named coheads of global corporate and investment banking. Rubinoff and Saggurti will continue to be based in New York while Donofrio will relocate to London.

Brian Brille has been named president, AsiaPacific, and will move to Hong Kong from New York. He replaces Kim Hong, whose new role will be vice chairman, Asia Pacific, reporting to Brille.

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