Bank of America Corp.'s Merrill Lynch investment bank unit said it has hired a Royal Bank of Scotland Group PLC executive as its chief financial officer.
Jennifer Hill will take on the head finance role in global banking and markets. Hill had been head of strategy and corporate finance at RBS since July 2008 and was previously a CFO of hedge fund Tisbury Capital Management, which was closed last year.
She will report to Chief Accounting Officer Neil Cotty and replace Bob Qutub, who is transitioning to CFO of the consumer bank. The hiring was reported earlier by The New York Times blog Dealbook.
Last week, Thomas Montag, head of the global banking and markets group, said in a memo the executives on top of the global corporate and investment banking divisions were being shifted.
Bank of America already made some top executive changes this month, including an announcement that top CFO Charles Noski would be stepping down after less than a year on the job and be replaced by Chief Risk Officer Bruce Thompson.
The bank also named a new head of its legal department.
