Timothy W Latimore has been appointed Japan country executive for Bank of America Merrill Lynch as part of a regional management reshuffle at the US bank.
Latimore, who also assumes the role of representative director and president for Merrill Lynch Japan Securities, replaces Jiro Seguchi who has held both roles since 2010.
Seguchi will become sole head of global corporate and investment banking for Asia-Pacific, and relocate from Tokyo to Hong Kong in a move that was reported in October.
Jayanti Bajpai, currently co-head with Seguchi, is to return to London to become vice-chairman of global corporate and investment banking for Europe, the Middle East and Africa.
Latimore will oversee all of BofA Merrill’s business in the country, including securities and bank business. The move is effective February 1.
“With 23 years experience serving some of Japan’s leading companies, Tim brings to the role a wealth of knowledge, industry experience and longstanding relationships,” Matthew Koder, BofA Merrill's Asia-Pacific president, told FinanceAsia.
“Tim will build upon the success of our platform in Japan, driving the strategic direction and ensuring we take a coordinated and integrated approach across all our lines of business.”
Latimore has been with BofA Merrill for 20 years in various roles, most recently as manager of Bank of America, Tokyo branch. In this role he oversaw all branch activity, including corporate banking and global treasury services.
Before that he headed the Financial Sponsors Group in the Japan Investment Banking business. He speaks fluent Japanese.
Latimore graduated from Williams College in 1986 and received a MBA from The Wharton School as well as an MA in International Studies from the Joseph H Lauder Institute, University of Pennsylvania, in 1994.
He will report to Koder. Seguchi will report to Koder on a regional basis and to Christian Meissner, BofA Merril’s head of global corporate and investment banking, operationally.
Seguchi’s recent deals include Japan Airlines’ $8.5 billion IPO and Mitsubishi UFJ Financial Group’s $5.7 billion acquisition of Bank of Ayudhya in July.
“Following his outstanding success building our Japan business in to the industry leader it is today, we are delighted to have Jiro focus his attention on our global commercial and investment banking business in Asia-Pacific, while continuing to be intimately involved in our Japanese client relationships,” Koder said.
Merrill Lynch is celebrating 50 years in Japan this year. MLJS provides a range of fixed-income, commodities and currency products, while also offering equity and equity-linked sales and trading services. It also provides capital-raising and M&A advisory services.