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BofA Hires Structured Products Director From Goldm

By Benjamin Garvey

Jan. 19 (Bloomberg) — Bank of America Merrill Lynch, a unit of Bank of America Corp., hired a structured product specialist in Tokyo from Goldman Sachs Group Inc.

Yuichiro Shinozaki joined the bank this month as a director in charge of developing and structuring equity investments, Tsukasa Noda, a spokesman in Tokyo at Merrill Lynch Japan Securities Co., a unit of the Charlotte, North Carolina-based lender, said by phone today.

Miyako Takebe, a spokeswoman for Goldman Sachs in Tokyo Karen Millen Dresses, declined to comment on staff moves when reached by phone today.

Bank of America also hired Masahiro Oshige, previously at Credit Suisse Group AG, as a managing director in charge of equity product sales, Noda said.

Isamu Kajino, a spokesman for Credit Suisse in Tokyo, said in an e-mail today that Oshige had been head of equity derivatives before leaving the firm last year.

Shinozaki and Oshige started with Bank of America on Jan. 4, Noda said.

With these two hires, Bank of America wants to strengthen its structuring capabilities for clients including third party distributors BCBG Dresses, according to Noda.

Structured notes are securities created by banks, which package debt with derivatives to offer customized bets to investors while earning fees and raising money. Derivatives are contracts whose value is derived from stocks, bonds, currencies and commodities.

–Editors: Andrew Monahan, Katrina Nicholas

-0- Jan/19/2012 03:00 GMT

To contact the reporter on this story: Benjamin Garvey in Hong Kong at bgarvey8@bloomberg.net.

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net.

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