Bank of America-Merill Lynch has appointed Mike Joo, who formerly ran Merill Lynch’s debt capital markets business in North Asia, as the chief operating officer for global markets. Relocating from Hong Kong to New York, Joo will focus on strategy and business support for the bank’s global sales and trading business across equities and fixed-income. Reporting to Tom Montag, who was hired by Merill in April 2008 to head global markets, Joo will also run the Principal Administrative Office. COO’s of individual businesses will now report to Joo, as well as their respective lines of business.  

It was Joo’s leadership abilities, ability to think outside the box, and other qualities that caught Montag’s attention. It is still unclear whether anyone will be appointed to take over Joo’s responsibilities, or if they will be taken over by the rest of the team. Former

Chief operating officer Mike Meyer remains as global head of sales and continues to oversee business referred to as Fair Value Option.

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