Bank of America Names Manelski and Zuberi Co-Heads of Global Markets After 14-Quarter Growth Streak

Bank of America has appointed Denis Manelski and Soofian Zuberi as the new co-heads of its Global Markets business. The move comes after 14 straight quarters of growth in the bank’s trading division.

The internal announcement follows strong performance this year. In the third quarter, Bank of America’s sales and trading unit reported $5.4 billion in revenue, up 9% from the same period last year.

Who Are the New Leaders?

• Denis Manelski has spent more than two decades at the bank. He most recently led sales across fixed income, currencies, and commodities.
• Soofian Zuberi has been with Bank of America for roughly 30 years and recently served as head of global equities.

Both executives have long track records inside the organization and are seen as key players in expanding the bank’s global trading footprint.

Wider Leadership Moves

The leadership shuffle also includes a major promotion for Jim DeMare, who becomes co-president of the entire bank. His new role places him as a potential contender to eventually succeed CEO Brian Moynihan.

Bank of America also announced:

• Karen Fang and Sarang Gadkari will co-lead a new Global Capital Solutions group, focusing on complex financing and client strategy.
• Ashok Krishnan will run the bank’s platforms and technology-driven initiatives, including automation and AI-based systems.

Why It Matters

The changes signal Bank of America’s focus on strengthening its position in global markets and preparing for future leadership transitions. With markets shifting rapidly and more financial services relying on advanced technology, the bank says these updates will help it stay competitive and meet fast-changing client needs.