Bank of America appoints Manelski & Zuberi to lead global markets unit

Bank of America announced the promotion of Denis Manelski and Soofian Zuberi as co-heads of its Global Markets division effective immediately. Manelski previously ran fixed income, currencies and commodities, while Zuberi led emerging-markets trading. The appointments reflect the bank’s strategy to integrate its trading operations across business lines and strengthen execution amid increased volatility and regulation. Analysts say the move aims at streamlining decision-making and improving margins for the bank’s capital-markets business as fee pressures grow.