BofA names Faiz Ahmad, Mike Joo as new co-heads of investment banking, memo says

ReutersLast Updated: Aug 21, 2025, 08:11:00 AM IST

Synopsis

Bank of America has announced a leadership reshuffle within its global corporate and investment banking division. Faiz Ahmad and Mike Joo have been appointed as the new co-heads of global investment banking. Alex Bettamio and Thomas Sheehan will transition to chairs of GCIB, focusing on strengthening client relationships. BofA currently holds a 6% market share in global investment banking revenue.

Bank of America on Wednesday announced a reshuffle in its global corporate and investment banking (GCIB) business, naming Faiz Ahmad and Mike Joo as new co-heads of global investment banking, according to an internal memo seen by Reuters.

The current heads of investment banking, Alex Bettamio and Thomas Sheehan, will become chairs of GCIB, tasked with deepening client relationships globally, according to the memo by Matthew Koder, president of BofA's GCIB.

Bank of America is the third-largest bank in 2025 by global investment banking revenue, according to Dealogic as of mid-August. It has 6% market share, slightly lower than its 6.1% last year.