New Bank of America Merrill Lynch Australia chief Kevin Skelton has wasted little time filling his old role, appointing David Wood as head of investment banking.
Wood takes over from Skelton, who was this week appointed country head.
“He has longstanding relationships with many of our most important clients and a proven track record of understanding and meeting client needs,” Skelton, with Jayanti Bajpai and Jiro Seguchi, co-heads of Asia Pacific global corporate and investment banking, said in an internal memo.
Wood, a qualified lawyer with more than 15 years’ experience in banking, will report to all three. He joined BAML in 2010 and most recently headed the bank’s natural resources team in Australia, and has served as deputy head of investment banking since March.
The reshuffle comes after former country head Craig Drummond left BAML in July for a senior finance and strategy role at National Australia Bank, which he starts later this year.
BAML is ranked third in equity capital markets, 18th for advising on announced takeovers and 11th for bond issuance, according to Thomson Reuters.