HONG KONG (Reuters) - Bank of America Merrill Lynch (NYSE:BAC) appointed Joseph Fayyad and Tamao Sasada as country executives of Australia and Japan, respectively, an internal memo seen by Reuters said.
Sasada will also become president and representative director of Merrill Lynch Japan Securities, according to the memo. She takes over from Jiro Seguchi, who was named co-president of Asia Pacific in January.
Fayyad will retain his existing role as head of Australia investment banking and takes over from Kevin Skelton. Meanwhile, Skelton will take up a newly-created role as chairman of Australia.
Fayyad has over 20 years of investment banking experience in Australia, while Sasada has worked in investment banking since joining the firm in 1998.
The changes are first major moves made by Seguchi and Jin Su since they were named co-heads for the Asia Pacific business.
Reiko Hayashi has also been appointed deputy president of Merrill Lynch Japan Securities and a director of the board, according to the memo. Hayashi will oversee interactions with regulators and government departments and ensure good governance is in place across the franchise.
The memo was sent by Seguchi and Su.