Most Powerful Women in Finance: Elif Bilgi Zapparoli, Bank of America

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Co-Head of Global Capital Markets, BofA Securities

Serving Bank of America as co-head of Global Capital Markets in its newly named BofA Securities unit, Elif Bilgi Zapparoli leads a team of more than 700 that collaborates across multiple business lines to service clients around the world.

Over the past year, she has been instrumental in managing efforts to use artificial intelligence, machine learning, robotics and automation to deliver quicker turnarounds and lower prices for clients.

In one example of those efforts, BofA's Predictive Intelligence Analytics Machine, or PRIAM, was able to maximize the demand for initial public offerings by identifying the investors who would be most inclined to participate in a specific deal.

PRIAM's AI identifies likely investors "with a degree of accuracy better than 80%," she said in an interview with Global Finance magazine.

Zapparoli also has played a major role in expanding BofA's overall environmental, social and governance practice.

The capital markets group was a key enabler for a $1 billion COVID-19 social bond, issued to provide financial assistance to segments of the health care industry in their battle with the pandemic.

In addition, she has been performing a key role in BofA's involvement with a consortium of nine peer financial services organizations, who aim to transform the industry through various technical innovations and efficiencies in communication, transparency, security syndication and risk management.

Zapparoli dedicates significant time to diversity efforts at her company, serving as an adviser on the Women's Leadership Council as well as regularly participating in its annual Global Women's Conference.

Outside of work, she continues to be involved in several local community service and fundraising initiatives.

Among her favorites is Memorial Sloan Kettering's Cycle for Survival, a series of indoor team cycling rides on stationary bikes that helps raise money to fight rare cancers.

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Capital markets Investment banking