Bank of America has announced that Michael Fossaceca is joining the company’s global treasury services business, with responsibility for large corporate clients in North America. Fossaceca will be based in New York. In his new role, Fossaceca will be responsible for driving revenue in North America by executing winning sales strategies, deepening client relationships and improving client satisfaction. Fossaceca joins Bank of America from JPMorganChase, where he most recently served as the large corporate sales and solutions development executive in the treasury services business. He managed a team that was responsible for generating roughly US$750m in annual revenues. An 18-year JPMorganChase veteran, Fossaceca also served on the treasury services executive team and operating committee charged with developing and executing JPMorganChase’s global business strategy.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.