Bank of America on Wednesday appointed Jayanti Bajpai and Jiro Seguchi as joint heads of the corporate and investment banking arm of Merrill Lynch in the Asia Pacific region. The appointments are effective immediately. Bank of America had completed its acquisition of Merrill Lynch in early January.
Bajpai was formerly head of investment banking for India as well as Central Europe, Eastern Europe, Middle East and Africa. In his new role, Bajpai will be responsible for Asia-pacific ex-Japan. Jiro Seguchi will be responsible for the investment banking operations in Japan.
There is no mention of a replacement for Bajpai as India head of investment banking.
Bajpai, who has been with Merrill Lynch for the past 22 years, will replace Jim Forbes, who is returning to the US from Hong Kong for personal reasons. He will explore other opportunities inside the company. Forbes quit the role three months after taking it on. Forbes had also looked after Japan operations too. He was earlier an investment banker with Merrill Lynch in New York. In November 2008, he was appointed as the head of corporate and investment banking for Bank of America in the Asia Pacific region.
Both Jayanti Bajpai and Jiro Seguchi will report to Andrea Orcel, President for international global banking and investment banking.