The three executives would report to Tom Montag, president of BofA’s global banking markets, the Financial Times reported.
BofA also gave Donofrio direct oversight of the various corporate- and investment-banking product lines.
The Financial Times report added that Purna Saggurti, who had served as Rubinoff’s co-head of investment banking, will become chairman of the combined business.
In a note to employees, Tom Montag, president of BofA’s global banking and markets arm, wrote that common leadership of both products and coverage will enhance the bank’s ability to serve clients and improve profitability.
