Bank of America has named Brian Weinstein as head of its Europe, Middle East and Africa (EMEA) markets business in a newly created role, marking a significant leadership appointment for the second largest US bank.

Weinstein, who has spent 30 years at the firm, will also become head of EMEA fixed-income, currencies and commodities trading, subject to regulatory approval. He will continue to be based in London and report to Jim DeMare, president of global markets, and Bernie Mensah, president of international.

The appointment comes as Bank of America continues to strengthen its global markets presence. The bank recently reported strong performance in its trading division, with third-quarter revenue from equity and fixed-income, currencies and commodities trading increasing 12 per cent to $4.93 billion.

"We have made considerable strides over the past few years with our clients and our operations in the region," DeMare and Mensah wrote in an internal memo seen by Bloomberg and Reuters.

Weinstein's most recent position was co-head of global credit trading, and he has worked extensively in both the bank's New York and London offices. Following his promotion, Brian Carosielli will take sole leadership of the global credit division.

The leadership change reflects Bank of America's ongoing investment in its global markets business, as it competes with other major US banks to increase its market share in sales and trading operations.

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