The bank has hired 23 equities analysts and six salespeople, positioning it to begin active marketing of a comprehensive product offering to institutional clients. Our research platform builds on our trading and sales trading capabilities and establishes Bank of America as a fully-fledged player in the European equity markets. Douglas Bowers , President, Bank of America Europe welcomed the move as part of the bank s strategic expansion of investment banking operations in the region.
Equities are a central strand to our growth.
Our objective is to create a strong franchise in the secondary market, giving institutions a comprehensive offering in research, sales and execution, while offering considerable opportunities in primary issuance as we further develop our investment banking platform. Bank of America has established both U.S. and European equity sales and trading capabilities in London to meet the increasing demands of its European clients for equity and equity related products. Formerly DLJ lead banks analyst, and earlier with Fox-Pitt, Kelton, the leading specialist equities house in this sector. Telecommunications William Laurent , head of European Telecoms, following alternative carriers. Prior to joining DLJ, he headed the Telecom research team at Robert Fleming and was number one ranked for his work on the Latin American telecom stocks.