BofA names Asia-Pac debt solutions co-heads

The US bank has promoted Devesh Ashra and Conna Tam to head its Asia-Pacific debt solutions group.

Devesh Ashra and Conan Tam have been named co-heads of Asia Pacific debt solutions at Bank of America Merrill Lynch as the US bank reorganises its bond and loans business across the region.

In these newly created roles, the promoted duo will share responsibilities across debt capital markets, leveraged finance, and syndicated loans, according to an internal memo seen by FinanceAsia on Monday. The pair will also cover BofA Merrill Lynch's clients in Australia and Japan.

"Please join me in congratulating Devesh and Conan on their enlarged roles and in wishing them success as we continue to build our franchise," Peter Guenthardt, the US bank's head of Asia Pacific Global Capital Markets, said in the memo.

Both Ashra and Tam will continue to be based in Hong Kong and report to Guenthardt.

A Hong Kong-based spokeswoman declined to comment on the appointments when contacted by FinanceAsia.

Ashra, who joined the US bank in 2013, moves up from head of Asia debt capital markets syndicate. Tam, who joined in 2014, was previously Greater China DCM head.

Prior to BofA Merrill Lynch, Ashra worked at Credit Suisse where he transferred from New York to head the debt syndicate desk in Hong Kong in June 2010.

Tam worked for UBS for 5 years between 2009 and 2014.

According to Dealogic, the US bank is currently placed second in the 2016 Asia ex-Japan DCM league table, underwriting 34 deals worth a total of $7.9 billion.

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