Bank of America Corp. is increasing its focus on high-level corporate clients through a pair of promotions.
The company promoted Fares Noujaim to executive vice chairman of global corporate and investment banking, a person familiar with the matter said Tuesday. Last week it promoted Harry MacMahon to the same post. Noujaim will continue to oversee sovereign wealth fund coverage, though he will no longer run operations in the Middle East and Africa, the source said. MacMahon and Noujaim will be in charge of developing stronger relationships with corporate chief executives and directors, the source said.