Bank of America Tabs Paul Simpson as Chief of Global Prime Brokerage

According to an internal memo confirmed to Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates by Bank of America's John Yiannacopoulos, the group has appointed Paul Simpson as Chief of its Global Prime Brokerage after the departure of Stuart Hendel who announced his intention to leave the post in March 2014.

Mr. Simpson was formerly Head of BoA's Global Transaction Services.

Bank of America Merrill Lynch's Global Prime Brokerage and clearing services have been delivering access to more than 70 exchanges all over the globe, offering its clients a multitude of assets including Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, fixed income and derivatives.

According to the memo, Simpson will be reporting to the Head of Global Equities, Fabrizio Gallo and David Sobotka for futures and options products, over-the-counter (OTC) clearing and the FX prime brokerage. John Simpson was previously employed by other major banks - Citigroup Inc, and JPMorgan Chase & Co.