Bank of America is reorganizing its management team in Zurich and Frankfurt. The current country executive and nephew of well-known Swiss financier Martin Ebner is being replaced by a former UBS banker.
Bank of America (BofA) has appointed Thorsten Pauli (pictured below) as its new country executive for Switzerland. He takes on the role of country head in addition to that of the head of equity capital markets (ECM) in investment banking for Germany, Austria, and Switzerland, according to an internal memo from the bank.
(Image: BofA)
Helping with Transition
Pauli joined Bank of America in 2019, having previously worked for UBS for over two decades.
He replaces the previous head of Switzerland Manuel Ebner, a nephew of the well-known Swiss financier Martin Ebner. The former decided to retire after a career of almost 13 years at Bank of America, according to the statement. He has played a central role in strengthening the Swiss business since joining BofA in 2010, including successfully seeking a banking license in 2015.
To ensure a smooth transition, Ebner will remain in his post until June.
New Zurich Branch Manager
The Zurich office will also be in new hands. Brooke Wachtel will be appointed branch manager in Zurich but will remain head of corporate banking in Switzerland. She will report to Kristijan Krstic, head of corporate banking in German-speaking Europe. His responsibilities will also be expanded as Krstic will additionally become the Frankfurt branch manager.
In Frankfurt, Markus Meier is now responsible for ECM for Germany, reporting to Pauli. He has been working for the bank since 2007 and brings with him a wealth of experience, according to the statement.
