Bank of America on Tuesday announced that Fernando Vicario is the head of corporate banking for emerging markets, excluding Asia, according to an internal memo obtained by ASR sister publication IDD Magazine on Wednesday.

The position is a newly-created role and reflects the firm’s push into emerging markets – a commitment alluded to by BofA’s chief executive, Tom Montag, in its investor day last week.

BofA has recently made strategic agreements with banking firms in Turkey and the United Arab Emirates. Also, it recently was given a license in Brazil to offer global treasury solutions to multinationals in Brazil.

Vicario reports to Andrea Orcel, executive chairman, global banking and markets and president of emerging markets, excluding Asia, as well as Joel Van Dusen, global head of corporate banking coverage.

Vicario joined Bank of America in 1995 to head its multinational advisory team in the U.S. and Europe. He then became Europe Middle East Africa (EMEA) corporate banking head, and later, EMEA head of global product solutions. His most recent role was as head of corporate banking for financial institutions EMEA and for Northern Central Europe Middle East and Africa.

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