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  • Bank of America Corp. (BAC) to Change Higher Management in Latin America

    Citigroup Official Logo
    Wednesday Sept. 22, 2010 at 08:42 am EST
    Bank of America Corp. (BAC) Restructuring Higher Management
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    Bank of America Corp. (BAC) announced on Tuesday that its Latin American Wealth and investment management chief, Brian Sepe will retire in November. Head of BofA corporate and investment banking in the region, Sonia Dula will takeover the position.
    Sonia Dula, 48 will report to Sallie Krawcheck, global wealth chief and Andrea Orcel, executive chairman of global banking and markets. Dula had joined Bank of America in 2006, and has overseen the integration of Merrill's Latin American investment banking and Bank of Ameria's operations. Since 2009, she has also contributed to the expansion of Bank of America's Latin American corporate banking unit.

    In this new role, Dula will manage Latin American financial advisers. Dula's replacement will be announced shortly, the bank said.
    Sepe had joined Merrill Lynch in 1979 as financial advise. Then he moved in 1992 to Merrill's private wealth group into management. Since past two years, he has held couple of different posts with Merrill's adviser business.In 2008, he was responsible for the company's U.S. Northeast division. In 2009 Merrill and Bank of America merged and then he became head of Latin America wealth Management. (BAC) shares closed higher at $13.65 on Tuesday near resistance level of $13.68. The support levels below are at $13.23 and $12.45. Resistance levels for BofA are at - $14,.11, $15.23 and $15.82.

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