Bank of America has promoted Thorsten Pauli to lead its Asia Pacific Global Capital Markets unit. This move is part of several leadership changes within the bank, with Pauli, an experienced IPO banker who previously worked at UBS Group AG, set to relocate to Hong Kong.
Pauli currently serves as the Country Executive for Bank of America in Switzerland and previously headed the Equity Capital Markets team for Germany, Austria, and Switzerland. He has over 25 years of experience in equity capital markets, including leading global distribution of IPOs and share placements to global family offices at UBS. He assumed his role as Country Executive Switzerland and Head ECM Switzerland at Bank of America in November 2019.
Olof Engelbrekts, who currently leads the company’s investment banking business in Switzerland, will succeed Pauli as the Swiss chief. Pauli will be taking over from Matthew Basler, who has held the position of Head of Asia Pacific Global Capital Markets since August 2020. Basler's team covers 12 financial centers across the Asia Pacific region, including Hong Kong, China, Japan, and Australia.
Further demonstrating the bank's strategic shifts, Dominic Tan has been appointed head of Southeast Asia investment banking, while retaining his role as head of Asia Pacific consumer & retail investment banking. Antonio Puno, whom Tan is replacing, will move to the firm's financial sponsors investment banking team for Europe, Middle East, and Africa. Bank of America has also reportedly reorganized its Zurich and Frankfurt offices, though specific details were not provided.
