BoA Merrill appoints co-heads of Asia industrials investment banking

Patrick Steinemann, and Richard Zhang from Citi, take up new roles as co-heads of Asia industrials at Bank of America Merrill Lynch.

BoA Merrill appoints co-heads of Asia industrials investment banking

Bank of America Merrill Lynch has appointed Patrick Steinemann and Richard Zhang as co-heads of its Asia industrials investment banking team, according to a memo the firm sent to staff yesterday.

The appointments come during a tough period for many global investment banks in Asia, which have struggled amid subdued Asian equity markets. BoA Merrill responded in January by cutting 15 managing directors in an effort to slim down its business in the region....

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